Nevro (NVRO) : Investors lapped up stocks on upticks to the tune of $8.54 million in the Wednesdays trading session. The trading value on downticks was comparatively at $6.07 million and the uptick to downtick ratio of 1.41 indicates continuous buying by the bulls. The net money flow into the stock was $2.47 million. Upticks saw transactions worth $2.34 clearly indicating buying by large investors. The total money flow for block trades stood at $2.34 million, which is a positive for the stock in the long-term. Nevro (NVRO) fell $0.32 during the day at $80.22, a drop of -0.4% over the previous days close. However, for the week, the stock is -0.3%, compared to the previous week.
Also, Wells Fargo initiates coverage on Nevro (NYSE:NVRO).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on July 12, 2016.
Nevro (NYSE:NVRO): The stock opened at $80.65 on Wednesday but the bulls could not build on the opening and the stock topped out at $81.85 for the day. The stock traded down to $80.13 during the day, due to lack of any buying support eventually closed down at $80.21 with a loss of -0.41% for the day. The stock had closed at $80.54 on the previous day. The total traded volume was 386,820 shares.
The stock has recorded a 20-day Moving Average of 6.15% and the 50-Day Moving Average is 11.67%. In a related news, The Securities and Exchange Commission has divulged that Alleavitch Doug, officer (VP, Quality) of Nevro Corp, had unloaded 2,000 shares at an average price of $80 in a transaction dated on July 11, 2016. The total value of the transaction was worth $160,000.
Nevro Corp. is a medical device company. The Company manufactures and markets active implantable medical devices for the treatment of neurological disorders initially focusing on the treatment of chronic pain. The Company developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Companys Senza system is the only spinal cord stimulation (SCS) system that delivers its HF10 therapy. The Companys Senza system creates electrical impulses from two hertz to 10 kilohertz, including its HF10 therapy, which allows for pain relief without paresthesia. HF10 therapy delivers waveforms at 10 kilohertz pulse rate with a statistically driven and clinically verified programming algorithm. Senza consists of leads, a trial stimulator, an implantable pulse generator (IPG), surgical tools, a clinician laptop programmer, a patient remote control and a mobile charger.