Assure (NASDAQ:IONM) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Assure (NASDAQ:IONM) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Assure Holdings Corp. works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services which support intraoperative neuromonitoring activities during invasive surgeries. Assure Holdings Corp. is based in DENVER. “

Shares of IONM stock opened at $5.23 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 9.98 and a quick ratio of 9.98. The company has a 50 day moving average of $5.63. Assure has a 52 week low of $4.58 and a 52 week high of $11.35.

Assure (NASDAQ:IONM) last issued its earnings results on Monday, November 15th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. Assure had a negative return on equity of 13.77% and a negative net margin of 11.55%. The company had revenue of $8.55 million during the quarter, compared to the consensus estimate of $6.80 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, analysts predict that Assure will post -0.23 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Assure stock. Manatuck Hill Partners LLC bought a new position in Assure Holdings Corp (NASDAQ:IONM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,500 shares of the company’s stock, valued at approximately $377,000. Manatuck Hill Partners LLC owned 0.53% of Assure at the end of the most recent reporting period. 0.49% of the stock is owned by institutional investors.

Assure Company Profile

Assure Holdings Corp. is a Colorado-based company. It works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. It focuses primarily on supporting spinal and vascular surgeries, plans are in place to support other classes of medicine that rely on the standard of care that intraoperative neuromonitoring provides.

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