NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 112.1% in August

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 82,079 shares, an increase of 112.1% from the July 30th total of 38,703 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 102,758 shares, the days-to-cover ratio is presently 0.8 days.

Insider Buying and Selling at NeuroOne Medical Technologies

In other news, Director Mark Christianson sold 10,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total transaction of $31,800.00. Following the completion of the transaction, the director directly owned 20,692 shares in the company, valued at approximately $65,800.56. This represents a 32.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

Several hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new position in shares of NeuroOne Medical Technologies in the second quarter valued at approximately $41,000. Bard Associates Inc. acquired a new stake in NeuroOne Medical Technologies during the 2nd quarter worth approximately $929,000. BlackRock Inc. purchased a new position in NeuroOne Medical Technologies in the 2nd quarter valued at approximately $76,000. XTX Topco Ltd boosted its position in NeuroOne Medical Technologies by 321.1% in the 4th quarter. XTX Topco Ltd now owns 85,454 shares of the company’s stock valued at $65,000 after buying an additional 65,163 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of NeuroOne Medical Technologies in the fourth quarter worth $36,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

NeuroOne Medical Technologies Stock Performance

Shares of NASDAQ NMTC opened at $1.77 on Monday. NeuroOne Medical Technologies has a twelve month low of $1.42 and a twelve month high of $6.96. The stock has a fifty day simple moving average of $2.28 and a 200-day simple moving average of $3.56. The stock has a market capitalization of $16.12 million, a PE ratio of -1.86 and a beta of 0.61.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). NeuroOne Medical Technologies had a negative return on equity of 128.12% and a negative net margin of 71.50%.The firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $2.17 million. On average, equities analysts predict that NeuroOne Medical Technologies will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

NMTC has been the subject of several research analyst reports. Weiss Ratings lowered shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Maxim Group set a $5.00 price target on shares of NeuroOne Medical Technologies and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, LADENBURG THALM/SH SH boosted their price target on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NeuroOne Medical Technologies presently has an average rating of “Hold” and an average target price of $7.33.

NeuroOne Medical Technologies Company Profile

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.