Neurometrix (NASDAQ:NURO) Trading Up 5.9%

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Neurometrix Inc (NASDAQ:NURO) shares were up 5.9% on Tuesday . The stock traded as high as $0.43 and last traded at $0.36, approximately 277,165 shares were traded during trading. An increase of 93% from the average daily volume of 143,881 shares. The stock had previously closed at $0.34.

Several equities analysts recently weighed in on NURO shares. Zacks Investment Research lowered shares of Neurometrix from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. ValuEngine raised shares of Neurometrix from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd.

The firm’s 50-day moving average is $0.38 and its two-hundred day moving average is $0.71.

Neurometrix (NASDAQ:NURO) last issued its quarterly earnings data on Thursday, July 18th. The medical device company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. Neurometrix had a negative net margin of 23.52% and a negative return on equity of 17.31%. The firm had revenue of $2.36 million for the quarter, compared to analyst estimates of $3.28 million. As a group, equities analysts predict that Neurometrix Inc will post -0.35 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Neurometrix stock. Acadian Asset Management LLC raised its stake in shares of Neurometrix Inc (NASDAQ:NURO) by 386.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,605 shares of the medical device company’s stock after purchasing an additional 83,102 shares during the period. Acadian Asset Management LLC owned 1.07% of Neurometrix worth $43,000 as of its most recent SEC filing. 11.63% of the stock is currently owned by hedge funds and other institutional investors.

About Neurometrix (NASDAQ:NURO)

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

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