NeuroMetrix (NASDAQ:NURO) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of NeuroMetrix (NASDAQ:NURO) in a research note issued on Saturday. The firm set a “sell” rating on the medical device company’s stock.

NeuroMetrix Stock Down 3.8 %

Shares of NASDAQ NURO opened at $4.30 on Friday. NeuroMetrix has a 52 week low of $2.70 and a 52 week high of $9.87. The stock has a market capitalization of $8.56 million, a price-to-earnings ratio of -0.69 and a beta of 2.28. The firm has a 50-day simple moving average of $3.99 and a 200-day simple moving average of $3.76.

NeuroMetrix (NASDAQ:NURO) last announced its earnings results on Thursday, February 22nd. The medical device company reported ($1.43) earnings per share for the quarter. NeuroMetrix had a negative return on equity of 31.31% and a negative net margin of 110.64%. The company had revenue of $1.32 million for the quarter.

Hedge Funds Weigh In On NeuroMetrix

A hedge fund recently bought a new stake in NeuroMetrix stock. Cerity Partners LLC bought a new stake in shares of NeuroMetrix, Inc. (NASDAQ:NURO) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 30,000 shares of the medical device company’s stock, valued at approximately $108,000. Cerity Partners LLC owned about 2.80% of NeuroMetrix as of its most recent filing with the SEC. 19.40% of the stock is currently owned by institutional investors.

About NeuroMetrix

NeuroMetrix, Inc, a commercial stage neurotechnology company, engages in designing, building, and marketing medical devices that stimulate and analyze nerve response for diagnostic and therapeutic purposes in the United States, Europe, Japan, and China. Its marketed products include DPNCheck, a nerve conduction test that is used to evaluate peripheral neuropathies, such as diabetic peripheral neuropathy; Quell, a wearable device for symptomatic relief and management of chronic pain; and ADVANCE system offers services to device and provide disposable electrodes to a customer base of hand surgeons and manufacturers for industrial health use.