DarioHealth Corp (NASDAQ:DRIO)
DarioHealth Corp (NASDAQ:DRIO), a developer of App-based diabetes management systems, shares are up over 30% with an hour left in the trading day. Volume for the nano-cap healthcare technology firm are massive. DRIO stock is listed with an average daily trading volume of less than 30,000 shares traded per day. Before the end of trading today already over six million shares have been traded.
DarioHealth Business Model
Israeli-based DarioHealth Corp (NASDAQ:DRIO) develops proprietary technologies using smart phones and other mobile devices. Its flagship product is Dario, a mobile, real-time, cloud-based, diabetes management solution based on a multi-feature software application combined with Dario Smart Meter, a pocket-sized, blood glucose monitoring device.
Today DarioHealth Corp (NASDAQ:DRIO) announced that it received the CE Mark for its Lightning®-enabled version of the acclaimed Dario™ Blood Glucose Monitoring System. The news ensures that consumers, beginning in the UK market, will be able to receive the same quality user experience with DarioHealth on the latest Apple devices, including the brand-new iPhone 8.
Erez Raphael, Chairman and CEO of DarioHealth Corp (NASDAQ:DRIO), commented, “We’ve been working tirelessly to bring forth a solution that would meet the rigorous standards required to achieve the CE Mark. We are proud that our organization worked with agility to ensure connectivity to the latest Apple devices. This significant milestone will allow us to open to a whole new market segment and reengage with former-Dario users who now have the newest Apple devices.”
DRIO stock tried to break through the $3 level back in May but without success. The shares then slid and traded in a $1.80-$2.00 range for the last several weeks. Shares are still down over 40% YTD and well below their 52-week high of $4.70. DRIO stock has a $4.25 price target by the lone analyst that covers the shares and assigns DRIO a rating of “Strong Buy”.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.