Nephros (NASDAQ:NEPH) Shares Down 3.2% – Here’s What Happened

Shares of Nephros Inc. (NASDAQ:NEPH) traded down 3.2% during trading on Tuesday . The company traded as low as $3.74 and last traded at $3.89. 55,331 shares were traded during mid-day trading, an increase of 27% from the average session volume of 43,645 shares. The stock had previously closed at $4.02.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NEPH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nephros in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Nephros to a “strong-buy” rating in a research report on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nephros presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Nephros Stock Down 3.2%

The company has a 50 day moving average price of $4.75 and a 200-day moving average price of $4.63. The company has a market cap of $41.35 million, a price-to-earnings ratio of 29.93 and a beta of 1.40.

Hedge Funds Weigh In On Nephros

A number of hedge funds have recently modified their holdings of the business. Topline Capital Management LLC increased its holdings in Nephros by 13.1% in the second quarter. Topline Capital Management LLC now owns 477,449 shares of the company’s stock valued at $1,953,000 after purchasing an additional 55,360 shares during the period. Geode Capital Management LLC grew its position in shares of Nephros by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 93,187 shares of the company’s stock valued at $381,000 after buying an additional 2,898 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Nephros by 7.2% in the 4th quarter. HighTower Advisors LLC now owns 59,710 shares of the company’s stock valued at $291,000 after buying an additional 4,000 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Nephros by 262.3% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 50,000 shares of the company’s stock valued at $244,000 after buying an additional 36,200 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of Nephros by 39.2% during the third quarter. Citadel Advisors LLC now owns 16,545 shares of the company’s stock worth $78,000 after acquiring an additional 4,655 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

About Nephros

Nephros, Inc is a development-stage company specializing in advanced water filtration and purification technologies for medical, laboratory, industrial and defense applications. The company’s core offering centers on proprietary hollow fiber ultrafilters designed to remove bacteria, viruses, endotoxins and particulates from water streams. These ultrafilters are used in hemodialysis systems to protect patient treatment, in pharmaceutical and laboratory environments to ensure water quality and in critical field-deployable units for military and emergency response.

The company’s product portfolio includes standalone filtration cartridges for point-of-use and point-of-entry installations in dialysis clinics and hospitals, as well as bench-top and portable water purification systems.