Wall Street Zen Downgrades Biosig Technologies (NASDAQ:STEX) to Strong Sell

Key Points

• Wall Street Zen downgraded Biosig Technologies from "hold" to Strong Sell, and Weiss Ratings initiated coverage with a "sell (d-)" — the stock's consensus rating is currently "Sell."
• Major insiders have been buying recently — Frank Giustra bought 100,000 shares and CIO Mitchell Young Williams bought 51,511 shares, with insiders acquiring 1,267,011 shares (~$3.8M) in the last 90 days and owning 52.73% of the company.
• Biosig reported a steep quarterly loss (EPS of -$8.23), trades around $1.16 with a market cap of $207M, and has a wide 52-week range of $0.40 to $14.11, signaling high volatility and weak near-term fundamentals.

Biosig Technologies (NASDAQ:STEX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a report released on Sunday.

Separately, Weiss Ratings started coverage on Biosig Technologies in a research note on Friday, January 23rd. They set a "sell (d-)" rating on the stock. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

Biosig Technologies Price Performance

NASDAQ STEX opened at $1.16 on Friday. The stock has a market capitalization of $207.08 million, a price-to-earnings ratio of -0.12 and a beta of 1.90. Biosig Technologies has a one year low of $0.40 and a one year high of $14.11. The firm has a 50 day simple moving average of $2.24.

Biosig Technologies (NASDAQ:STEX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($8.23) earnings per share for the quarter.

Insider Activity

In other Biosig Technologies news, major shareholder Frank Giustra purchased 100,000 shares of Biosig Technologies stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average price of $3.17 per share, with a total value of $317,000.00. Following the completion of the acquisition, the insider owned 1,278,205 shares of the company's stock, valued at approximately $4,051,909.85. This trade represents a 8.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CIO Mitchell Young Williams acquired 51,511 shares of the company's stock in a transaction on Friday, January 23rd. The shares were acquired at an average price of $3.03 per share, for a total transaction of $156,078.33. Following the completion of the acquisition, the executive directly owned 1,051,511 shares in the company, valued at $3,186,078.33. The trade was a 5.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,267,011 shares of company stock worth $3,825,628 over the last ninety days. Corporate insiders own 52.73% of the company's stock.

Biosig Technologies Company Profile

Biosig Technologies NASDAQ: STEX is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.

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