Biosig Technologies (NASDAQ:STEX) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Biosig Technologies (NASDAQ:STEX) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Other analysts have also recently issued reports about the company. Weiss Ratings raised Biosig Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Needham & Company LLC cut their price target on Biosig Technologies from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Biosig Technologies currently has an average rating of “Hold” and a consensus price target of $8.00.

Biosig Technologies Price Performance

Shares of NASDAQ:STEX opened at $0.78 on Friday. Biosig Technologies has a 12 month low of $0.70 and a 12 month high of $7.44. The firm has a market cap of $142.39 million, a price-to-earnings ratio of -0.08 and a beta of 1.94. The stock’s fifty day moving average is $1.01.

Biosig Technologies (NASDAQ:STEX) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter.

Biosig Technologies announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 7th that allows the company to buyback 10,000,000,000,000 shares. This buyback authorization allows the company to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Chairman Morgan Lee Lekstrom purchased 50,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $0.99 per share, with a total value of $49,500.00. Following the completion of the acquisition, the chairman directly owned 359,500 shares in the company, valued at $355,905. This represents a 16.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Mitchell Young Williams sold 23,810 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.05, for a total value of $25,000.50. Following the completion of the transaction, the executive owned 3,013,838 shares in the company, valued at $3,164,529.90. This trade represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have bought 231,000 shares of company stock valued at $252,360 in the last quarter. Insiders own 52.73% of the company’s stock.

Biosig Technologies Company Profile

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.