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

StockNews.com started coverage on shares of NeuroMetrix (NASDAQ:NURO) in a note issued to investors on Friday. The brokerage set a “sell” rating on the medical device company’s stock.

NeuroMetrix Stock Down 1.8 %

NeuroMetrix stock opened at $4.43 on Friday. The firm has a fifty day moving average of $4.35 and a 200-day moving average of $4.14. NeuroMetrix has a 52-week low of $2.66 and a 52-week high of $4.73. The firm has a market capitalization of $9.09 million, a P/E ratio of -0.97 and a beta of 2.15.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NeuroMetrix stock. Renaissance Technologies LLC bought a new stake in NeuroMetrix, Inc. (NASDAQ:NURO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,560 shares of the medical device company’s stock, valued at approximately $46,000. Renaissance Technologies LLC owned approximately 0.57% of NeuroMetrix as of its most recent filing with the Securities & Exchange Commission. 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.