NeuroMetrix, Inc. (NASDAQ:NURO) Sees Significant Decrease in Short Interest

NeuroMetrix, Inc. (NASDAQ:NURO) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,600 shares, a decline of 36.0% from the February 28th total of 2,500 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 18,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On NeuroMetrix

A hedge fund recently bought a new stake in NeuroMetrix stock. Renaissance Technologies LLC purchased a new position in NeuroMetrix, Inc. (NASDAQ:NURO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,560 shares of the medical device company’s stock, valued at approximately $46,000. Renaissance Technologies LLC owned about 0.57% of NeuroMetrix at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.40% of the company’s stock.

NeuroMetrix Stock Performance

Shares of NURO traded up $0.07 on Monday, hitting $4.50. 3,387 shares of the stock traded hands, compared to its average volume of 12,325. NeuroMetrix has a one year low of $2.66 and a one year high of $4.73. The company has a market capitalization of $9.26 million, a PE ratio of -0.98 and a beta of 2.15. The business has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $4.15.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of NeuroMetrix in a research report on Friday. They set a “sell” rating on the stock.

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, 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.