Neuronetics (NASDAQ:STIM) Shares Up 1.7% – What’s Next?

Neuronetics, Inc. (NASDAQ:STIM)’s stock price shot up 1.7% during trading on Thursday . The company traded as high as $1.2981 and last traded at $1.23. 1,650,456 shares traded hands during trading, a decline of 0% from the average session volume of 1,652,191 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

STIM has been the subject of a number of recent analyst reports. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Canaccord Genuity Group decreased their target price on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Neuronetics has an average rating of “Hold” and a consensus price target of $3.00.

Neuronetics Stock Performance

The company has a market capitalization of $85.59 million, a P/E ratio of -2.28 and a beta of 1.05. The company has a debt-to-equity ratio of 3.59, a quick ratio of 1.50 and a current ratio of 1.67. The business’s fifty day simple moving average is $1.44 and its 200-day simple moving average is $1.51.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $34.45 million during the quarter, compared to analyst estimates of $34.17 million. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%. As a group, equities analysts anticipate that Neuronetics, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Jorey Chernett bought 100,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $1.17 per share, for a total transaction of $117,000.00. Following the transaction, the insider owned 10,553,988 shares of the company’s stock, valued at $12,348,165.96. The trade was a 0.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 675,000 shares of company stock worth $911,500. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Madryn Asset Management LP purchased a new stake in shares of Neuronetics during the 4th quarter valued at about $25,497,000. UBS Group AG increased its stake in Neuronetics by 580.7% during the third quarter. UBS Group AG now owns 2,164,831 shares of the company’s stock worth $5,910,000 after acquiring an additional 1,846,801 shares during the last quarter. Lane Generational LLC purchased a new stake in Neuronetics during the fourth quarter valued at approximately $2,353,000. Goldman Sachs Group Inc. raised its position in Neuronetics by 2,993.3% during the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock valued at $2,320,000 after purchasing an additional 610,014 shares during the period. Finally, FourWorld Capital Management LLC lifted its stake in shares of Neuronetics by 59.9% in the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after purchasing an additional 558,072 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Company Profile

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.