Nephros (NASDAQ:NEPH) Shares Up 14% - Here's Why

Key Points

• Nephros Inc. shares surged 14% during mid-day trading, reaching a high of $5.59, with trading volume increasing by 257% from the average session.
• Brokerage firm Maxim Group raised its price target on Nephros from $4.50 to $6.00, while the company has a consensus target price of $5.50 and a current consensus rating of "Moderate Buy."
• Nephros reported a profit of $0.02 per share for its last quarter, exceeding analyst expectations, with revenues of $4.40 million, compared to the $3.60 million forecast.

Nephros Inc. (NASDAQ:NEPH - Get Free Report)'s stock price shot up 14% during mid-day trading on Monday . The stock traded as high as $5.59 and last traded at $5.44. 212,142 shares changed hands during trading, an increase of 257% from the average session volume of 59,464 shares. The stock had previously closed at $4.77.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEPH. Maxim Group increased their price objective on Nephros from $4.50 to $6.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nephros in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

Nephros Price Performance

The company has a fifty day simple moving average of $4.08 and a two-hundred day simple moving average of $3.25. The company has a market capitalization of $57.66 million, a P/E ratio of 45.33 and a beta of 1.32.

Nephros (NASDAQ:NEPH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Nephros had a return on equity of 14.89% and a net margin of 7.95%.The company had revenue of $4.40 million for the quarter, compared to analyst estimates of $3.60 million.

Institutional Investors Weigh In On Nephros

A hedge fund recently raised its stake in Nephros stock. Topline Capital Management LLC grew its holdings in Nephros Inc. (NASDAQ:NEPH - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 477,449 shares of the company's stock after purchasing an additional 55,360 shares during the quarter. Topline Capital Management LLC owned about 4.50% of Nephros worth $1,953,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 41.10% of the company's stock.

About Nephros

Nephros, Inc, a commercial-stage company, develops and sells water solutions to the medical and commercial markets in the United States. It offers ultrafiltration products that are used in dialysis centers for the removal of biological contaminants from water and bicarbonate concentrate; and in hospitals for the prevention of infection from waterborne pathogens, such as legionella and pseudomonas, as well as in military and outdoor recreation, commercial, and other healthcare facilities.

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