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

Shares of NeuroMetrix, Inc. (NASDAQ:NURO) are set to reverse split 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 %

Shares of NASDAQ:NURO traded down $0.02 during trading on Monday, reaching $0.49. 156,014 shares of the company traded hands, compared to its average volume of 63,067. The firm has a market capitalization of $4.18 million, a PE ratio of -0.70 and a beta of 2.31. NeuroMetrix has a 52 week low of $0.45 and a 52 week high of $2.18. The company’s 50 day moving average is $0.61 and its two-hundred day moving average is $0.82.

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

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of NeuroMetrix in a research report on Wednesday, November 15th. They set a “sell” rating for the company.

Institutional Trading of NeuroMetrix

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp acquired a new stake in shares of NeuroMetrix in the 2nd quarter valued at approximately $41,000. Virtu Financial LLC acquired a new position in shares of NeuroMetrix during the first quarter worth $78,000. Millennium Management LLC increased its holdings 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 worth $30,000 after buying an additional 10,384 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of NeuroMetrix by 44.3% in the 3rd 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of NeuroMetrix by 30.7% during the 4th quarter. Renaissance Technologies LLC now owns 36,854 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 8,654 shares in the last quarter. 5.07% of the stock is currently owned by institutional investors.

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, 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.