Biosig Technologies (NASDAQ:STEX) Raised to Hold at Wall Street Zen

Biosig Technologies (NASDAQ:STEX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently weighed in on STEX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biosig Technologies in a research report on Wednesday, July 29th. Needham & Company LLC dropped their price objective on shares of Biosig Technologies to $4.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.00.

Biosig Technologies Price Performance

Biosig Technologies stock opened at $0.66 on Friday. The company has a market cap of $77.01 million, a price-to-earnings ratio of -0.07 and a beta of 2.01. Biosig Technologies has a 12 month low of $0.65 and a 12 month high of $7.44. The stock’s 50-day moving average is $0.79 and its 200-day moving average is $1.09.

Biosig Technologies (NASDAQ:STEX) last issued its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $0.15 million during the quarter.

Biosig Technologies declared that its board has approved a stock buyback plan on Tuesday, July 7th that allows the company to buyback 10,000,000,000,000 shares. This buyback authorization allows the company to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Biosig Technologies

In other news, CIO Mitchell Young Williams sold 72,689 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $0.72, for a total transaction of $52,336.08. Following the completion of the sale, the executive owned 2,885,814 shares of the company’s stock, valued at approximately $2,077,786.08. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 52.73% of the company’s stock.

About Biosig Technologies

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.