Neuronetics, Inc. (NASDAQ:STIM) Short Interest Up 26.1% in October

Neuronetics, Inc. (NASDAQ:STIM) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 711,100 shares, a growth of 26.1% from the September 30th total of 564,000 shares. Based on an average daily trading volume, of 419,600 shares, the short-interest ratio is presently 1.7 days.

Neuronetics Stock Up 1.9 %

STIM opened at $1.01 on Wednesday. The company has a market cap of $30.30 million, a P/E ratio of -1.05 and a beta of 2.27. The business’s 50-day moving average price is $0.87 and its 200-day moving average price is $1.75. The company has a current ratio of 2.58, a quick ratio of 2.37 and a debt-to-equity ratio of 2.38. Neuronetics has a 12 month low of $0.66 and a 12 month high of $5.07.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The company had revenue of $16.45 million during the quarter, compared to analysts’ expectations of $18.76 million. Neuronetics had a negative return on equity of 109.00% and a negative net margin of 45.06%. During the same quarter in the prior year, the firm posted ($0.17) EPS. On average, equities analysts expect that Neuronetics will post -0.87 EPS for the current year.

Insider Buying and Selling at Neuronetics

In other news, Director Robert Cascella purchased 35,000 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $1.06 per share, for a total transaction of $37,100.00. Following the completion of the transaction, the director now directly owns 349,098 shares of the company’s stock, valued at approximately $370,043.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders have bought 211,776 shares of company stock worth $175,170 over the last 90 days. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Neuronetics in the first quarter worth about $62,000. Legato Capital Management LLC bought a new stake in shares of Neuronetics in the second quarter worth about $44,000. FourWorld Capital Management LLC bought a new stake in shares of Neuronetics in the first quarter worth about $171,000. Gabelli Funds LLC grew its stake in shares of Neuronetics by 88.2% in the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after purchasing an additional 22,500 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Neuronetics by 53.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 48,652 shares of the company’s stock worth $232,000 after purchasing an additional 16,855 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STIM has been the topic of a number of research reports. JMP Securities lowered their price target on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 14th. William Blair reiterated a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th. Finally, Canaccord Genuity Group decreased their price objective on Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.