Biosig Technologies (NASDAQ:STEX) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Biosig Technologies from “sell” to “hold,” bringing the overall analyst consensus to “Hold” with an average price target of $4.00.
• STEX shares opened at $0.66, near their one-year low of $0.65, while the company reported a quarterly loss of $0.08 per share and revenue of $0.15 million.
• The company authorized a buyback of up to 5.5% of its shares, while an insider sold 72,689 shares at an average price of $0.72 to cover tax withholding obligations.

Biosig Technologies (NASDAQ:STEX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

STEX has been the topic of a number of other research reports. Needham & Company LLC dropped their target price on Biosig Technologies to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Biosig Technologies in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.00.

Biosig Technologies Stock Performance

Shares of STEX opened at $0.66 on Friday. The stock has a 50-day moving average of $0.79 and a two-hundred day moving average of $1.10. Biosig Technologies has a one year low of $0.65 and a one year high of $7.44. The stock has a market cap of $77.01 million, a P/E ratio of -0.07 and a beta of 2.01.

Biosig Technologies (NASDAQ:STEX - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $0.15 million during the quarter.

Biosig Technologies declared that its board has authorized a share buyback plan on Tuesday, July 7th that authorizes the company to buyback 10,000,000,000,000 shares. This buyback authorization authorizes the company to buy up to 5.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Activity at Biosig Technologies

In related news, CIO Mitchell Young Williams sold 72,689 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $0.72, for a total transaction of $52,336.08. Following the sale, the executive directly owned 2,885,814 shares of the company's stock, valued at $2,077,786.08. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 52.73% of the stock is owned by insiders.

Biosig Technologies Company Profile

Biosig Technologies NASDAQ: STEX is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.