StockNews.com Begins Coverage on NeuroMetrix (NASDAQ:NURO)

Research analysts at StockNews.com assumed coverage on shares of NeuroMetrix (NASDAQ:NURO) in a report released on Thursday. The brokerage set a “sell” rating on the medical device company’s stock.

NeuroMetrix Stock Up 18.6 %

Shares of NURO stock opened at $4.33 on Thursday. NeuroMetrix has a one year low of $2.70 and a one year high of $11.82. The company has a 50 day moving average price of $3.77 and a 200 day moving average price of $3.81.

NeuroMetrix (NASDAQ:NURO) last issued its quarterly earnings results on Thursday, February 22nd. The medical device company reported ($1.43) EPS 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.

Institutional Investors Weigh In On NeuroMetrix

Several institutional investors have recently bought and sold shares of NURO. Vanguard Group Inc. grew its stake in NeuroMetrix by 6.7% during the first quarter. Vanguard Group Inc. now owns 315,137 shares of the medical device company’s stock worth $1,311,000 after buying an additional 19,667 shares during the period. Virtu Financial LLC purchased a new stake in NeuroMetrix during the first quarter worth approximately $78,000. Northern Trust Corp purchased a new stake in NeuroMetrix during the second quarter worth approximately $41,000. Renaissance Technologies LLC grew its stake in NeuroMetrix by 46.4% during the second quarter. Renaissance Technologies LLC now owns 44,113 shares of the medical device company’s stock worth $162,000 after buying an additional 13,985 shares during the period. Finally, Citadel Advisors LLC grew its stake in NeuroMetrix by 44.3% during the third quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock worth $97,000 after buying an additional 10,652 shares during the period. 19.40% of the stock is currently owned by hedge funds and other institutional investors.

NeuroMetrix Company Profile

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, China, the Middle East, and Mexico. Its primary 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, a platform for the performance of nerve conduction studies.