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

Neuronetics, Inc. (NASDAQ:STIM) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 53,200 shares, a drop of 64.9% from the February 29th total of 151,700 shares. Based on an average daily trading volume, of 204,300 shares, the short-interest ratio is currently 0.3 days.

Neuronetics Price Performance

Neuronetics stock traded up $0.08 during trading hours on Thursday, hitting $4.88. The stock had a trading volume of 18,728 shares, compared to its average volume of 198,410. Neuronetics has a 1-year low of $1.03 and a 1-year high of $4.99. The company has a quick ratio of 4.33, a current ratio of 4.73 and a debt-to-equity ratio of 1.73. The stock’s fifty day moving average is $3.61 and its two-hundred day moving average is $2.40.

Neuronetics (NASDAQ:STIM) last released its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. Neuronetics had a negative net margin of 42.31% and a negative return on equity of 72.76%. The company had revenue of $20.31 million for the quarter, compared to analyst estimates of $19.73 million. During the same period in the prior year, the firm earned ($0.30) EPS. As a group, analysts anticipate that Neuronetics will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $8.00 price objective (up from $7.00) on shares of Neuronetics in a report on Wednesday, March 6th. William Blair reiterated a “market perform” rating on shares of Neuronetics in a research report on Tuesday.

Insider Activity

In other Neuronetics news, CEO Keith J. Sullivan sold 23,958 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total transaction of $70,915.68. Following the completion of the transaction, the chief executive officer now owns 1,434,171 shares of the company’s stock, valued at $4,245,146.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP William Andrew Macan sold 15,621 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $3.38, for a total value of $52,798.98. Following the completion of the sale, the executive vice president now owns 417,736 shares of the company’s stock, valued at $1,411,947.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Keith J. Sullivan sold 23,958 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total value of $70,915.68. Following the transaction, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The disclosure for this sale can be found here. Insiders have sold 160,292 shares of company stock worth $519,307 in the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Worth Venture Partners LLC acquired a new position in shares of Neuronetics during the 4th quarter valued at $30,000. Wolverine Trading LLC purchased a new stake in Neuronetics during the 4th quarter worth $32,000. Portside Wealth Group LLC purchased a new stake in Neuronetics during the 2nd quarter worth approximately $36,000. Tower Research Capital LLC TRC increased its holdings in Neuronetics by 577.1% in the first quarter. Tower Research Capital LLC TRC now owns 12,831 shares of the company’s stock valued at $37,000 after buying an additional 10,936 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Neuronetics by 44.7% in the second quarter. Cubist Systematic Strategies LLC now owns 15,113 shares of the company’s stock worth $49,000 after purchasing an additional 4,670 shares during the period. 53.59% of the stock is currently owned by hedge funds and other 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.