Neuronetics, Inc. (NASDAQ:STIM) Director Robert Cascella Purchases 35,000 Shares

Neuronetics, Inc. (NASDAQ:STIM) Director Robert Cascella purchased 35,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought 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 in the company, valued at approximately $370,043.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Robert Cascella also recently made the following trade(s):

• On Monday, August 19th, Robert Cascella purchased 4,000 shares of Neuronetics stock. The shares were bought at an average price of $1.14 per share, for a total transaction of $4,560.00.
• On Wednesday, August 14th, Robert Cascella purchased 35,000 shares of Neuronetics stock. The shares were bought at an average price of $0.79 per share, for a total transaction of $27,650.00.
• On Thursday, June 6th, Robert Cascella purchased 50,000 shares of Neuronetics stock. The shares were bought at an average price of $2.05 per share, for a total transaction of $102,500.00.

Neuronetics Price Performance

Shares of NASDAQ STIM traded down $0.11 during midday trading on Monday, reaching $1.01. The company’s stock had a trading volume of 570,114 shares, compared to its average volume of 237,013. The company has a current ratio of 2.58, a quick ratio of 5.18 and a debt-to-equity ratio of 2.38. The company has a 50 day moving average price of $1.76 and a 200 day moving average price of $2.83. Neuronetics, Inc. has a one year low of $0.66 and a one year high of $5.07. The company has a market cap of $30.60 million, a price-to-earnings ratio of -1.05 and a beta of 2.32.

Neuronetics (NASDAQ:STIM) last released its earnings results on Monday, August 12th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The business had revenue of $16.45 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned ($0.17) earnings per share. On average, equities research analysts expect that Neuronetics, Inc. will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. First Washington CORP lifted its position in shares of Neuronetics by 88.8% in the second quarter. First Washington CORP now owns 1,274,540 shares of the company’s stock worth $2,294,000 after purchasing an additional 599,455 shares in the last quarter. Millrace Asset Group Inc. increased its stake in Neuronetics by 205.1% in the 4th quarter. Millrace Asset Group Inc. now owns 725,369 shares of the company’s stock valued at $2,104,000 after buying an additional 487,591 shares during the period. First Eagle Investment Management LLC lifted its position in Neuronetics by 33.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company’s stock worth $1,870,000 after buying an additional 260,000 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Neuronetics during the 4th quarter valued at $545,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Neuronetics by 124.5% during the 2nd quarter. Renaissance Technologies LLC now owns 322,200 shares of the company’s stock valued at $580,000 after acquiring an additional 178,700 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Canaccord Genuity Group dropped their price target on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. JMP Securities dropped their target price on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 14th. Finally, William Blair reiterated a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th.

Neuronetics Company Profile

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.