NeuroOne Medical Technologies (NASDAQ:NMTC) Trading Down 8.4% – Time to Sell?

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC)’s share price dropped 8.4% on Thursday . The company traded as low as $0.7301 and last traded at $0.7350. Approximately 299,251 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 253,055 shares. The stock had previously closed at $0.8022.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NMTC. Weiss Ratings reissued a “sell (e+)” rating on shares of NeuroOne Medical Technologies in a research report on Wednesday, October 8th. Zacks Research raised shares of NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2.23.

NeuroOne Medical Technologies Stock Down 8.4%

The company has a market capitalization of $37.07 million, a P/E ratio of -9.19 and a beta of 0.71. The business’s 50-day moving average is $0.79 and its two-hundred day moving average is $0.81.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its quarterly earnings data on Tuesday, December 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. NeuroOne Medical Technologies had a negative net margin of 29.81% and a negative return on equity of 74.69%. The business had revenue of $2.74 million during the quarter, compared to the consensus estimate of $2.47 million. During the same period in the prior year, the firm posted ($0.46) EPS.

Institutional Investors Weigh In On NeuroOne Medical Technologies

Several large investors have recently made changes to their positions in NMTC. Warberg Asset Management LLC purchased a new position in shares of NeuroOne Medical Technologies in the 2nd quarter worth about $27,000. Focus Financial Network Inc. bought a new stake in NeuroOne Medical Technologies in the third quarter worth about $31,000. Susquehanna International Group LLP purchased a new position in NeuroOne Medical Technologies in the third quarter valued at about $47,000. XTX Topco Ltd bought a new position in shares of NeuroOne Medical Technologies during the 2nd quarter valued at approximately $51,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of NeuroOne Medical Technologies during the 1st quarter valued at approximately $84,000. 16.07% of the stock is owned by hedge funds and other institutional investors.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.