Biosig Technologies (NASDAQ:BSGM) Stock Price Down 9.3% - Here's What Happened

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.

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

Analyst Ratings Changes

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

Biosig Technologies Stock Down 9.3%

The business's 50 day simple moving average is $6.39 and its 200 day simple moving average is $3.00.

Biosig Technologies (NASDAQ:BSGM - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.09). As a group, sell-side analysts anticipate that Biosig Technologies, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Biosig Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenleaf Trust purchased a new stake in Biosig Technologies during the 2nd quarter valued at $114,000. Integrity Wealth Advisors Inc. purchased a new stake in Biosig Technologies during the 4th quarter valued at $61,000. FNY Investment Advisers LLC purchased a new stake in Biosig Technologies during the 2nd quarter valued at $298,000. PFG Investments LLC raised its holdings in 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 during the period. Finally, Geode Capital Management LLC purchased a new stake in Biosig Technologies during the 4th quarter valued at $143,000. Hedge funds and other institutional investors 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.

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