Short Interest in NeuroMetrix, Inc. (NASDAQ:NURO) Decreases By 36.0%

NeuroMetrix, Inc. (NASDAQ:NURO) was the target of a significant 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 shares of the company are sold short. Based on an average daily trading volume, of 18,000 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of NeuroMetrix in a research note on Friday. They issued a “sell” rating on the stock.

NeuroMetrix Stock Performance

Shares of NASDAQ:NURO traded down $0.08 during midday trading on Friday, hitting $4.43. The company’s stock had a trading volume of 2,608 shares, compared to its average volume of 17,481. The stock’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $4.14. The stock has a market capitalization of $9.09 million, a price-to-earnings ratio of -0.97 and a beta of 2.15. NeuroMetrix has a fifty-two week low of $2.66 and a fifty-two week high of $4.73.

Institutional Trading of NeuroMetrix

A hedge fund recently bought a new stake in NeuroMetrix stock. Renaissance Technologies LLC purchased a new position in shares of NeuroMetrix, Inc. (NASDAQ:NURO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. Institutional investors own 19.40% of the company’s 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.