NeuroMetrix, Inc. (NASDAQ:NURO) Sees Large Growth in Short Interest

NeuroMetrix, Inc. (NASDAQ:NURO) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 42,400 shares, an increase of 168.4% from the October 31st total of 15,800 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analyst Weigh In

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

NeuroMetrix Stock Down 0.7 %

Shares of NeuroMetrix stock traded down $0.03 on Friday, hitting $4.27. 29,386 shares of the company traded hands, compared to its average volume of 25,478. The company has a 50-day moving average price of $4.08 and a 200 day moving average price of $3.84. NeuroMetrix has a 12-month low of $2.66 and a 12-month high of $4.73. The company has a market cap of $8.71 million, a PE ratio of -0.93 and a beta of 2.29.

NeuroMetrix (NASDAQ:NURO) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported ($0.75) EPS for the quarter. NeuroMetrix had a negative net margin of 203.71% and a negative return on equity of 42.56%. The company had revenue of $0.59 million for the quarter. During the same quarter in the prior year, the company posted ($1.66) EPS.

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.