Biosig Technologies (NASDAQ:BSGM) Releases 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) posted its earnings results on Friday. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.70), Zacks reports.

Biosig Technologies Trading Down 1.9%

BSGM traded down $0.09 during trading on Wednesday, hitting $4.72. 600,954 shares of the stock were exchanged, compared to its average volume of 908,546. Biosig Technologies has a 1-year low of $0.23 and a 1-year high of $14.11. The stock has a fifty day moving average price of $6.02 and a two-hundred day moving average price of $3.26.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Biosig Technologies by 2,601.2% during the second quarter. Bank of America Corp DE now owns 8,671 shares of the company's stock worth $62,000 after buying an additional 8,350 shares during the period. Jane Street Group LLC acquired a new position in shares of Biosig Technologies in the second quarter valued at approximately $501,000. Finally, Geode Capital Management LLC increased its holdings in shares of Biosig Technologies by 73.2% in the second 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 during the period. Institutional investors and hedge funds own 7.16% of the company's stock.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their target price on Biosig Technologies from $2.50 to $10.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $10.00.

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.