Nyxoah (NASDAQ:NYXH) Shares Down 3.6% - Time to Sell?

Key Points

• Nyxoah (NASDAQ:NYXH) shares fell 3.6% on Tuesday, closing at $4.85 after trading as low as $4.84, with a notable decrease in trading volume.
• The company reported a loss of ($0.63) earnings per share, missing the consensus estimate, while revenues were slightly above expectations at $1.58 million for the quarter.
• Several hedge funds increased their stakes in Nyxoah, with Bank of America raising its position by 72.4% during the second quarter.

Nyxoah SA (NASDAQ:NYXH - Get Free Report)'s stock price dropped 3.6% on Tuesday . The stock traded as low as $4.84 and last traded at $4.85. Approximately 32,777 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 56,373 shares. The stock had previously closed at $5.03.

Nyxoah Stock Down 3.6%

The firm has a 50 day simple moving average of $6.50 and a two-hundred day simple moving average of $7.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.63 and a quick ratio of 2.38. The stock has a market cap of $165.19 million, a price-to-earnings ratio of -2.11 and a beta of 1.60.

Nyxoah (NASDAQ:NYXH - Get Free Report) last released its earnings results on Monday, August 18th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Nyxoah had a negative net margin of 1,541.84% and a negative return on equity of 79.18%. The company had revenue of $1.58 million during the quarter, compared to analyst estimates of $1.33 million. As a group, sell-side analysts expect that Nyxoah SA will post -1.91 EPS for the current year.

Hedge Funds Weigh In On Nyxoah

Several hedge funds have recently added to or reduced their stakes in the stock. Shay Capital LLC acquired a new stake in shares of Nyxoah during the second quarter worth about $374,000. Bank of America Corp DE raised its position in shares of Nyxoah by 72.4% during the second quarter. Bank of America Corp DE now owns 7,866 shares of the company's stock worth $59,000 after purchasing an additional 3,303 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Nyxoah during the second quarter worth about $70,000. Franklin Resources Inc. raised its position in shares of Nyxoah by 0.9% during the second quarter. Franklin Resources Inc. now owns 294,990 shares of the company's stock worth $2,207,000 after purchasing an additional 2,655 shares during the period. Finally, Kovack Advisors Inc. raised its position in shares of Nyxoah by 148.2% during the second quarter. Kovack Advisors Inc. now owns 57,827 shares of the company's stock worth $433,000 after purchasing an additional 34,532 shares during the period.

About Nyxoah

Nyxoah SA, a medical technology company, focuses on the development and commercialization of solutions to treat sleep disordered breathing conditions. The company's lead solution comprises Genio system, a CE-Marked, patient-centric, and hypoglossal neurostimulation therapy to treat moderate to severe obstructive sleep apnea.

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