Neuronetics, Inc. (NASDAQ:STIM – Get Rating) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 436,700 shares, an increase of 120.3% from the November 30th total of 198,200 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 197,700 shares, the days-to-cover ratio is presently 2.2 days.
Insider Activity at Neuronetics
In related news, major shareholder Cannell Capital Llc sold 13,032 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $6.35, for a total value of $82,753.20. Following the sale, the insider now owns 3,450,814 shares of the company’s stock, valued at $21,912,668.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 36,270 shares of company stock valued at $214,710 over the last 90 days. 5.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Neuronetics
Institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in shares of Neuronetics in the 2nd quarter valued at $35,000. PDT Partners LLC acquired a new position in shares of Neuronetics in the 3rd quarter valued at $38,000. Baker Tilly Wealth Management LLC acquired a new position in shares of Neuronetics in the 3rd quarter valued at $40,000. CWM LLC acquired a new position in shares of Neuronetics in the 3rd quarter valued at $41,000. Finally, Prudential Financial Inc. acquired a new position in shares of Neuronetics in the 3rd quarter valued at $45,000. 62.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group raised their price objective on shares of Neuronetics from $9.00 to $10.00 in a report on Wednesday, November 9th.
Neuronetics Stock Up 6.6 %
STIM stock traded up $0.39 during midday trading on Wednesday, reaching $6.31. 199,645 shares of the company were exchanged, compared to its average volume of 324,687. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.68 and a current ratio of 4.02. Neuronetics has a 1-year low of $1.98 and a 1-year high of $6.92. The stock’s 50-day simple moving average is $5.06 and its 200 day simple moving average is $4.06. The company has a market cap of $171.76 million, a price-to-earnings ratio of -4.64 and a beta of 2.21.
Neuronetics (NASDAQ:STIM – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.16. Neuronetics had a negative net margin of 58.85% and a negative return on equity of 49.80%. The company had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $14.79 million. On average, equities analysts forecast that Neuronetics will post -1.51 earnings per share for the current year.
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.