NeuroMetrix, Inc. (NASDAQ: NURO – Get Rating) was the target of a sharp drop in short-term interest during the month of April. As of April 15, there was short interest totaling 60,800 shares, down 29.7% from the March 31 total of 86,500 shares. Based on an average trading volume of 216,200 shares, the day-to-cover ratio is currently 0.3 days.

NURO opened at $2.98 on Friday. The stock has a market capitalization of $21.25 million, a P/E ratio of -5.52 and a beta of 2.84. NeuroMetrix has a 12 month minimum of $2.58 and a 12 month maximum of $38.75. The company’s fifty-day simple moving average is $3.97 and its 200-day simple moving average is $5.41.

NeuroMetrix (NASDAQ:NURO – Get Rating) last released its quarterly results on Thursday, January 27. The medical device company reported ($0.15) EPS for the quarter. The company had revenue of $1.82 million in the quarter. NeuroMetrix had a negative net margin of 37.87% and a negative return on equity of 15.80%.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of NeuroMetrix by 27.1% during the 4th quarter. BlackRock Inc. now owns 38,050 shares of the medical device company worth $191,000 after acquiring 8,102 more shares last quarter. State Street Corp increased its position in NeuroMetrix by 64.9% in the fourth quarter. State Street Corp now owns 17,270 shares of the medical device company valued at $87,000 after buying an additional 6,800 shares last quarter. Renaissance Technologies LLC increased its position in NeuroMetrix by 116.0% during the fourth quarter. Renaissance Technologies LLC now owns 144,738 shares of the medical device company valued at $727,000 after purchasing an additional 77,738 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in NeuroMetrix by 3,266.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 10,100 shares of the medical device company worth $51,000 after buying an additional 9,800 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in NeuroMetrix during the third quarter worth approximately $309,000. Hedge funds and other institutional investors own 10.69% of the company’s shares.

Separately, StockNews.com launched coverage on NeuroMetrix in a research report on Thursday, March 31. They issued a “sell” rating for the company.

About NeuroMetrix (Get an evaluation)

NeuroMetrix, Inc., a healthcare company, engages in the design, manufacture and marketing of medical devices that stimulate and analyze nerve response for diagnostic and therapeutic purposes in the United States, Europe, Japan, in China, the Middle East and Mexico. Its main marketed products include DPNCheck, a nerve conduction test used to assess peripheral neuropathies, such as diabetic peripheral neuropathy; Quell, a wearable device for symptomatic relief and chronic pain management; and the ADVANCE system, a platform for performing nerve conduction studies.

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