NeuroMetrix (NASDAQ:NURO) Shares Set to Reverse Split on Wednesday, November 22nd

NeuroMetrix, Inc. (NASDAQ:NURO)’s stock is scheduled to reverse split before the market opens on Wednesday, November 22nd. The 1-8 reverse split was announced on Monday, November 20th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, November 21st.

NeuroMetrix Stock Down 3.5 %

NeuroMetrix stock traded down $0.02 during trading on Monday, hitting $0.49. The stock had a trading volume of 156,014 shares, compared to its average volume of 63,067. NeuroMetrix has a 1 year low of $0.45 and a 1 year high of $2.18. The stock’s 50 day moving average is $0.61 and its two-hundred day moving average is $0.82. The stock has a market cap of $4.18 million, a price-to-earnings ratio of -0.70 and a beta of 2.31.

NeuroMetrix (NASDAQ:NURO) last posted its quarterly earnings data on Thursday, October 26th. The medical device company reported ($0.21) EPS for the quarter. NeuroMetrix had a negative net margin of 86.64% and a negative return on equity of 25.71%. The firm had revenue of $1.20 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of NeuroMetrix in a report on Wednesday, November 15th. They issued a “sell” rating on the stock.

Institutional Trading of NeuroMetrix

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of NeuroMetrix by 30.7% during the fourth quarter. Renaissance Technologies LLC now owns 36,854 shares of the medical device company’s stock valued at $55,000 after purchasing an additional 8,654 shares in the last quarter. Millennium Management LLC increased its position in shares of NeuroMetrix by 102.3% during the fourth quarter. Millennium Management LLC now owns 20,530 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 10,384 shares in the last quarter. Citadel Advisors LLC increased its position in shares of NeuroMetrix by 44.3% during the third quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock valued at $97,000 after acquiring an additional 10,652 shares in the last quarter. Northern Trust Corp bought a new stake in shares of NeuroMetrix during the second quarter valued at approximately $41,000. Finally, Virtu Financial LLC bought a new stake in shares of NeuroMetrix during the first quarter valued at approximately $78,000. 5.07% 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.