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

Neuronetics, Inc. (NASDAQ:STIM) was the target of a large drop in short interest during the month of 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 trading volume of 204,300 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $8.00 target price (up previously from $7.00) on shares of Neuronetics in a report on Wednesday, March 6th. William Blair reaffirmed a “market perform” rating on shares of Neuronetics in a research report on Tuesday.

Insider Transactions at Neuronetics

In related news, CEO Keith J. Sullivan sold 10,013 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $3.01, for a total transaction of $30,139.13. Following the completion of the sale, the chief executive officer now directly owns 1,167,645 shares of the company’s stock, valued at approximately $3,514,611.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephen Furlong sold 14,710 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $3.51, for a total transaction of $51,632.10. Following the completion of the sale, the chief financial officer now owns 509,033 shares of the company’s stock, valued at $1,786,705.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Keith J. Sullivan sold 10,013 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $3.01, for a total value of $30,139.13. Following the sale, the chief executive officer now directly owns 1,167,645 shares in the company, valued at $3,514,611.45. The disclosure for this sale can be found here. Insiders have sold 160,292 shares of company stock worth $519,307 in the last 90 days. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Neuronetics by 776.5% during the 4th quarter. UBS Group AG now owns 9,194 shares of the company’s stock valued at $63,000 after buying an additional 8,145 shares in the last quarter. Worth Venture Partners LLC purchased a new position in shares of Neuronetics during the 4th quarter valued at about $30,000. Wolverine Trading LLC acquired a new position in shares of Neuronetics during the 4th quarter worth approximately $32,000. Algert Global LLC acquired a new position in shares of Neuronetics in the fourth quarter worth $85,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics Price Performance

Shares of NASDAQ:STIM traded up $0.08 during midday trading on Thursday, reaching $4.88. 18,728 shares of the company were exchanged, compared to its average volume of 198,410. Neuronetics has a one year low of $1.03 and a one year high of $4.99. The business’s fifty day moving average is $3.61 and its two-hundred day moving average is $2.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.73 and a quick ratio of 4.33.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $19.73 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. Equities analysts expect that Neuronetics will post -0.92 EPS for the current year.

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.