The stock of NeuroMetrix, Inc. (NASDAQ:NURO) is now priced at $2.11 and the shares are 0.01 points up or 0.48% higher compared to its previous closing price of $2.1. The stock had 415327 contracts set over the past session. NURO shares’ daily volume is compared to its average trading volume at 1.464 million shares. However, it has a float of 2.7 million and although its performance was -2.31% over the week, it’s one to watch. NURO share price recently placing at $2.03 to $2.2201. However, some brokerage firms have priced the stock below the average, including one that has called $50.
The shorts are climbing into the NeuroMetrix, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the NURO shares have risen. Short interest in the stock represents just 2.98% of its float, but the volume has raised by 16755. The volume of shorted shares rised to 80308 from 63553 shares over the last two weeks. The average intraday trading volume has been 1.291 million shares, which means that days to cover moved to roughly 1.
In the last trading session, NeuroMetrix, Inc. (NASDAQ:NURO) dropped by -$0.05 over the week and gained $0.14 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.2. The stock recorded its established 52-week high on 04/14/20.
Since 03/18/20, the stock has traded to a low of $0.81 at 159.85%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, NeuroMetrix, Inc.’s two-week RSI is 53.97. This suggests that the stock is neutral at the moment and that NURO shares’ price movement remains stable. The stochastic readings are equally revealing at 48.07% meaning the NURO share price is currently in neutral territory.
The technical chart shows that the NURO stock will likely settle at between $2.21 and $2.31 per share. However, if the stock dips below $2.02, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.93.
Currently, the stock is trading in the green of MACD, with a reading of 0.02. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright though raised target price of NURO stock from $10 to $3 but maintained Buy recommendation in their October 20 review. Rodman & Renshaw analysts see the stock as a Buy with a target price of $4.5 in a flash note released to investors on June 28 initiating covering the stock. Maxim Group analysts see the stock as Buy when the analysts initiated the share price coverage on September 11, placing it at $2.
Elsewhere, the NURO stocks P/S ratio currently stands at 0below the group’s average of 56.9. NeuroMetrix, Inc. has its P/E ratio at 2.9, which means that the stock is currently trading at a discount relative to the 5.1 industry average.