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

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

Insider Buying and Selling at Neuronetics

In other news, Director Robert Cascella acquired 100,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $0.75 per share, with a total value of $75,000.00. Following the transaction, the director now owns 453,098 shares in the company, valued at $339,823.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 211,776 shares of company stock valued at $175,170. 9.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neuronetics

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Neuronetics in the 1st quarter worth approximately $62,000. Dorsey & Whitney Trust CO LLC raised its stake in Neuronetics by 53.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 48,652 shares of the company’s stock valued at $232,000 after buying an additional 16,855 shares during the last quarter. Gabelli Funds LLC raised its stake in Neuronetics by 88.2% during the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock valued at $86,000 after buying an additional 22,500 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Neuronetics during the 2nd quarter valued at $44,000. Finally, FourWorld Capital Management LLC purchased a new stake in Neuronetics during the 1st quarter valued at $171,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Neuronetics Price Performance

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

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). Neuronetics had a negative return on equity of 109.00% and a negative net margin of 45.06%. The firm had revenue of $16.45 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. As a group, research analysts expect that Neuronetics will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.