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

Neuronetics, Inc. (NASDAQ:STIM) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,780,000 shares, a growth of 39.7% from the February 28th total of 1,990,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is presently 1.9 days. Approximately 10.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price target on shares of Neuronetics from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, March 5th.

Neuronetics Trading Up 5.6 %

STIM stock opened at $3.89 on Tuesday. Neuronetics has a 1-year low of $0.52 and a 1-year high of $5.92. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. The business’s 50 day moving average is $4.05 and its 200-day moving average is $2.17. The firm has a market cap of $117.90 million, a P/E ratio of -3.15 and a beta of 2.07.

Insider Transactions at Neuronetics

In other Neuronetics news, CEO Keith J. Sullivan sold 40,992 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $3.28, for a total value of $134,453.76. Following the completion of the sale, the chief executive officer now owns 1,283,362 shares in the company, valued at approximately $4,209,427.36. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Andrew Macan sold 12,175 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total value of $46,630.25. Following the sale, the executive vice president now owns 388,647 shares in the company, valued at approximately $1,488,518.01. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,369 shares of company stock worth $358,929. 9.80% of the stock is owned by corporate insiders.

Institutional Trading of Neuronetics

Several institutional investors have recently bought and sold shares of STIM. HighTower Advisors LLC lifted its holdings in shares of Neuronetics by 55.5% during the third quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock valued at $187,000 after acquiring an additional 87,816 shares during the period. David J Yvars Group increased its position in shares of Neuronetics by 47.1% during the 4th quarter. David J Yvars Group now owns 46,325 shares of the company’s stock worth $75,000 after purchasing an additional 14,825 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Neuronetics by 10,954.1% during the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company’s stock valued at $88,000 after purchasing an additional 54,442 shares during the last quarter. Tradewinds LLC. acquired a new position in Neuronetics in the fourth quarter valued at about $32,000. Finally, Geode Capital Management LLC grew its position in Neuronetics by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 314,076 shares of the company’s stock worth $506,000 after acquiring an additional 8,466 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.