H.C. Wainwright slashes price target on NeuroMetrix Inc. [NURO] – find out why.

NeuroMetrix Inc. [NASDAQ: NURO] gained 10.82% or 1.42 points to close at $14.54 with a heavy trading volume of 5608762 shares. The company report on July 26, 2021 that NeuroMetrix Announces Peer-Reviewed Publication of a Randomized Controlled Trial of its Wearable Neurostimulation Technology for Treatment of Fibromyalgia.

NeuroMetrix, Inc. (Nasdaq: NURO) announced a publication titled “Effects of Wearable Transcutaneous Electrical Nerve Stimulation on Fibromyalgia: A Randomized Controlled Trial” in the Journal of Pain Research. The article is available online at the journal website.

The article reports an intention-to-treat analysis of a double-blind, randomized, sham-controlled trial that compared 3-months of at-home treatment with a standard (active) or low dose (sham) Quell device in 119 subjects with fibromyalgia.

It opened the trading session at $13.32, the shares rose to $16.21 and dropped to $13.29, the range by which the price of stock traded the whole day. The daily chart for NURO points out that the company has recorded 281.63% gains over the past six months. However, it is still -946.04% lower than its most recent low trading price.

If we look at the average trading volume of 7.72M shares, NURO reached to a volume of 5608762 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NeuroMetrix Inc. [NURO]:

H.C. Wainwright have made an estimate for NeuroMetrix Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2017. While these analysts kept the previous recommendation, Rodman & Renshaw raised their target price to Buy. The new note on the price target was released on June 28, 2016, representing the official price target for NeuroMetrix Inc. stock. Previously, the target price had yet another raise to $2, while Maxim Group analysts kept a Buy rating on NURO stock.

The Average True Range (ATR) for NeuroMetrix Inc. is set at 3.73, with the Price to Sales ratio for NURO stock in the period of the last 12 months amounting to 10.75. The Price to Book ratio for the last quarter was 6.83, with the Price to Cash per share for the same quarter was set at 1.39.

Trading performance analysis for NURO stock

NeuroMetrix Inc. [NURO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.82. With this latest performance, NURO shares gained by 316.62% in over the last four-week period, additionally plugging by 281.63% over the last 6 months – not to mention a rise of 612.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NURO stock in for the last two-week period is set at 59.19, with the RSI for the last a single of trading hit 55.52, and the three-weeks RSI is set at 61.02 for NeuroMetrix Inc. [NURO]. The present Moving Average for the last 50 days of trading for this stock 6.38, while it was recorded at 15.29 for the last single week of trading, and 3.87 for the last 200 days.

NeuroMetrix Inc. [NURO]: A deeper dive into fundamental analysis

NeuroMetrix Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 6.30.

NeuroMetrix Inc. [NURO]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NURO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NeuroMetrix Inc. go to 15.00%.

An analysis of insider ownership at NeuroMetrix Inc. [NURO]

There are presently around $4 million, or 15.20% of NURO stock, in the hands of institutional investors. The top three institutional holders of NURO stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 97,663, which is approximately New of the company’s market cap and around 12.20% of the total institutional ownership; VANGUARD GROUP INC, holding 66,234 shares of the stock with an approximate value of $0.96 million in NURO stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $0.64 million in NURO stock with ownership of nearly New of the company’s market capitalization.

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10 institutional holders increased their position in NeuroMetrix Inc. [NASDAQ:NURO] by around 253,243 shares. Additionally, 5 investors decreased positions by around 48,648 shares, while 1 investors held positions by with 17,011 shares. The mentioned changes placed institutional holdings at 284,880 shares, according to the latest SEC report filing. NURO stock had 7 new institutional investments in for a total of 202,866 shares, while 4 institutional investors sold positions of 46,908 shares during the same period.

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