Nuvectra Corp. (NASDAQ:NVTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $5.50 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 0.36% from the stock’s previous close.

According to Zacks, “Nuvectra Corporation develops and commercializes neuromodulation medical device for the treatment of nervous system disorders. It also provides neural interface technology, components and systems, as well as NeuroNexus SmartBox portable control and data streaming systems. Nuvectra Corporation is based in Plano, Texas. “

Several other research analysts have also recently weighed in on NVTR. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Nuvectra Corp. in a research report on Saturday, August 13th. B. Riley initiated coverage on Nuvectra Corp. in a research report on Thursday, September 15th. They set a “buy” rating and a $12.00 price objective for the company.

Nuvectra Corp. (NASDAQ:NVTR) opened at 5.48 on Wednesday. The company has a 50 day moving average price of $5.79 and a 200-day moving average price of $6.93. Nuvectra Corp. has a 52 week low of $4.02 and a 52 week high of $11.64. The company’s market capitalization is $56.33 million.

Nuvectra Corp. (NASDAQ:NVTR) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.88) by $0.05. The firm had revenue of $3.80 million for the quarter, compared to analyst estimates of $2.81 million. Nuvectra Corp. had a negative return on equity of 33.89% and a negative net margin of 320.73%. The firm’s quarterly revenue was up 192.3% compared to the same quarter last year. On average, equities analysts anticipate that Nuvectra Corp. will post ($3.41) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors Inc. bought a new position in shares of Nuvectra Corp. during the third quarter valued at approximately $914,000. Raffles Associates LP boosted its position in shares of Nuvectra Corp. by 20.3% in the third quarter. Raffles Associates LP now owns 214,675 shares of the company’s stock valued at $1,486,000 after buying an additional 36,190 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Nuvectra Corp. during the third quarter valued at approximately $251,000. The Manufacturers Life Insurance Company bought a new position in shares of Nuvectra Corp. during the third quarter valued at approximately $465,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Nuvectra Corp. by 538.8% in the third quarter. Tower Research Capital LLC TRC now owns 14,572 shares of the company’s stock valued at $101,000 after buying an additional 12,291 shares during the period. 66.64% of the stock is owned by hedge funds and other institutional investors.

Nuvectra Corp. Company Profile

Nuvectra Corporation, formerly QIG Group, LLC, is a neurostimulation company. The Company is focused on the development and commercialization of a neurostimulation technology platform, which is used for the treatment of various disorders through stimulation of tissues associated with the nervous system.

5 Day Chart for NASDAQ:NVTR

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