Neuronetics, Inc. (NASDAQ:STIM) Short Interest Update

Neuronetics, Inc. (NASDAQ:STIM) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,600,000 shares, an increase of 25.0% from the January 31st total of 1,280,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 1.5 days.

Neuronetics Stock Performance

NASDAQ:STIM opened at $5.42 on Thursday. The company has a 50-day moving average of $2.98 and a 200-day moving average of $1.67. The firm has a market cap of $164.49 million, a price-to-earnings ratio of -4.41 and a beta of 2.07. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. Neuronetics has a twelve month low of $0.52 and a twelve month high of $5.92.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price target on Neuronetics from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday.

Insider Transactions at Neuronetics

In other Neuronetics news, EVP William Andrew Macan sold 12,175 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total transaction of $46,630.25. Following the transaction, the executive vice president now owns 388,647 shares of the company’s stock, valued at approximately $1,488,518.01. This trade represents a 3.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Furlong sold 17,307 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $4.11, for a total transaction of $71,131.77. Following the transaction, the chief financial officer now owns 454,420 shares in the company, valued at $1,867,666.20. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,125 shares of company stock worth $348,876. 9.80% of the stock is currently owned by insiders.

Institutional Trading of Neuronetics

A number of large investors have recently added to or reduced their stakes in STIM. Balyasny Asset Management L.P. boosted its stake in shares of Neuronetics by 29.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company’s stock worth $2,386,000 after acquiring an additional 337,539 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Neuronetics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 314,076 shares of the company’s stock valued at $506,000 after purchasing an additional 8,466 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Neuronetics by 55.5% in the 3rd quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock valued at $187,000 after purchasing an additional 87,816 shares during the period. GSA Capital Partners LLP increased its stake in Neuronetics by 64.5% in the 3rd quarter. GSA Capital Partners LLP now owns 78,642 shares of the company’s stock worth $60,000 after purchasing an additional 30,837 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Neuronetics during the 3rd quarter worth about $53,000. 53.59% of the stock is currently owned by institutional investors.

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.