Biosig Technologies (NASDAQ:BSGM) Trading Down 9.3% - Time to Sell?

Key Points

• Biosig Technologies' stock fell by 9.3% to close at $4.02, with trading volume significantly reduced by 59% compared to its average.
• Analysts from Ascendiant Capital Markets have raised their price target for Biosig Technologies from $2.50 to $10.00 and assigned the stock a "buy" rating.
• The company reported a quarterly loss of ($0.14) EPS, which was below analysts' expectations, leading to projected earnings of -$0.88 EPS for the current fiscal year.

Biosig Technologies, Inc. (NASDAQ:BSGM - Get Free Report)'s share price fell 9.3% during trading on Tuesday . The company traded as low as $3.90 and last traded at $4.02. 636,242 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,550,799 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

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

Biosig Technologies Price Performance

The company's fifty day moving average is $6.29 and its two-hundred day moving average is $3.04.

Biosig Technologies (NASDAQ:BSGM - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.09). Analysts expect that Biosig Technologies, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Biosig Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Wealth Managment LLC ID grew its stake in shares of Biosig Technologies by 10.0% during the 2nd quarter. Legacy Wealth Managment LLC ID now owns 6,838,677 shares of the company's stock worth $48,828,000 after purchasing an additional 622,169 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Biosig Technologies during the 4th quarter worth approximately $5,369,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Biosig Technologies by 966.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 266,435 shares of the company's stock valued at $160,000 after buying an additional 241,447 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Biosig Technologies by 73.2% during the 2nd quarter. Geode Capital Management LLC now owns 221,164 shares of the company's stock valued at $1,580,000 after buying an additional 93,493 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of Biosig Technologies by 43.5% during the 1st quarter. PFG Investments LLC now owns 158,286 shares of the company's stock valued at $95,000 after buying an additional 48,000 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.