Biosig Technologies (NASDAQ:STEX) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Biosig Technologies (NASDAQ:STEX) from a strong sell rating to a sell rating in a research report report published on Saturday morning.

A number of other research firms have also recently issued reports on STEX. Needham & Company LLC lowered their target price on Biosig Technologies to $4.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Biosig Technologies in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.00.

Biosig Technologies Stock Up 0.7%

Biosig Technologies stock opened at $0.83 on Friday. The stock has a market capitalization of $151.48 million, a PE ratio of -0.09 and a beta of 1.98. Biosig Technologies has a twelve month low of $0.66 and a twelve month high of $7.44. The company has a 50 day moving average of $0.84 and a 200-day moving average of $1.31.

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

Biosig Technologies announced that its board has initiated a stock repurchase program on Tuesday, July 7th that authorizes the company to buyback 10,000,000,000,000 outstanding shares. This buyback authorization authorizes the company to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Biosig Technologies

In related news, Chairman Morgan Lee Lekstrom purchased 50,000 shares of Biosig Technologies stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $0.99 per share, with a total value of $49,500.00. Following the completion of the transaction, the chairman owned 359,500 shares of the company’s stock, valued at approximately $355,905. This trade represents a 16.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Mitchell Young Williams sold 23,810 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.05, for a total value of $25,000.50. Following the completion of the transaction, the executive owned 3,013,838 shares of the company’s stock, valued at approximately $3,164,529.90. This represents a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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.