Biosig Technologies (NASDAQ:BSGM) Announces Earnings Results, Misses Estimates By $0.70 EPS

Key Points

• Biosig Technologies reported a quarterly EPS of (0.74), missing analysts' estimates by $0.70.
• The company's stock price fell to $4.97, with a 52-week trading range between $0.23 and $14.11.
• Geode Capital Management increased its holdings in Biosig Technologies by 73.2%, reflecting growing institutional interest in the stock.

Biosig Technologies (NASDAQ:BSGM - Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.70), Zacks reports.

Biosig Technologies Stock Up 10.3%

Shares of NASDAQ BSGM traded up $0.51 during trading on Monday, hitting $5.48. 1,970,680 shares of the company traded hands, compared to its average volume of 698,599. The company has a 50-day moving average price of $6.12 and a 200-day moving average price of $3.20. Biosig Technologies has a 1 year low of $0.23 and a 1 year high of $14.11.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets lifted their price objective on Biosig Technologies from $2.50 to $10.00 and gave the stock a "buy" rating in a research report on Friday, June 6th.

Hedge Funds Weigh In On Biosig Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Biosig Technologies by 73.2% in the 2nd quarter. Geode Capital Management LLC now owns 221,164 shares of the company's stock valued at $1,580,000 after purchasing an additional 93,493 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Biosig Technologies in the second quarter valued at approximately $501,000. Finally, Bank of America Corp DE boosted its holdings in shares of Biosig Technologies by 2,601.2% in the second quarter. Bank of America Corp DE now owns 8,671 shares of the company's stock valued at $62,000 after acquiring an additional 8,350 shares in the last quarter. Institutional investors and hedge funds own 7.16% of the company's stock.

Biosig Technologies Company Profile

BioSig Technologies, Inc, together with its subsidiaries, a medical device company, engages in development and commercialization of advanced digital signal processing technology platform for the treatment of cardiovascular arrhythmias in the United States. It offers PURE EP system, a signal processing platform that combines hardware and software to address known challenges associated to signal acquisition that enables electrophysiologists to see signals and analyze in real-time, as well as is designed to address long-standing limitations that slow and disrupt cardiac catheter ablation procedures.