Neurometrix (NASDAQ:NURO) Sees Unusually-High Trading Volume

Neurometrix Inc (NASDAQ:NURO) saw unusually-high trading volume on Friday . Approximately 1,181,800 shares changed hands during mid-day trading, an increase of 719% from the previous session’s volume of 144,280 shares.The stock last traded at $0.47 and had previously closed at $0.38.

NURO has been the topic of several recent research reports. Zacks Investment Research downgraded Neurometrix from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. ValuEngine upgraded Neurometrix from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.

The firm has a 50 day moving average of $0.36 and a two-hundred day moving average of $0.66.

Neurometrix (NASDAQ:NURO) last posted its quarterly earnings results on Thursday, July 18th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The company had revenue of $2.36 million for the quarter, compared to the consensus estimate of $3.28 million. Neurometrix had a negative return on equity of 17.31% and a negative net margin of 23.52%. On average, analysts forecast that Neurometrix Inc will post -0.35 earnings per share for the current year.

A hedge fund recently raised its stake in Neurometrix stock. Acadian Asset Management LLC increased its stake in Neurometrix Inc (NASDAQ:NURO) by 386.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,605 shares of the medical device company’s stock after buying 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 filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 16.91% of the company’s stock.

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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