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

StockNews.com began coverage on shares of NeuroMetrix (NASDAQ:NURO) in a research note released on Thursday morning. The brokerage issued a sell rating on the medical device company’s stock.

NeuroMetrix Price Performance

Shares of NASDAQ:NURO opened at $4.54 on Thursday. The business’s 50 day simple moving average is $4.29 and its 200-day simple moving average is $4.11. The firm has a market capitalization of $9.32 million, a price-to-earnings ratio of -0.99 and a beta of 2.15. NeuroMetrix has a 12 month low of $2.66 and a 12 month high of $4.73.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NeuroMetrix stock. Renaissance Technologies LLC acquired a new position in shares of NeuroMetrix, Inc. (NASDAQ:NURO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,560 shares of the medical device company’s stock, valued at approximately $46,000. Renaissance Technologies LLC owned about 0.57% of NeuroMetrix at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.40% of the company’s stock.

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.