Neuronetics (NASDAQ:STIM) Stock: Insider Jorey Chernett Acquires 18,000 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 18,000 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was bought at an average cost of $2.27 per share, with a total value of $40,860.00. Following the completion of the acquisition, the insider owned 10,620,988 shares in the company, valued at $24,109,642.76. This represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, August 14th, Jorey Chernett bought 14,000 shares of Neuronetics stock. The stock was acquired at an average price of $3.16 per share, with a total value of $44,240.00.

Neuronetics Trading Up 2.4%

Shares of NASDAQ STIM traded up $0.06 during midday trading on Monday, hitting $2.31. The stock had a trading volume of 48,871 shares, compared to its average volume of 1,976,521. The company’s 50-day simple moving average is $2.52 and its 200 day simple moving average is $1.87. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The firm has a market cap of $175.63 million, a P/E ratio of -5.24 and a beta of 1.19. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $3.44.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%. The business had revenue of $41.57 million during the quarter, compared to the consensus estimate of $40.17 million. Research analysts anticipate that Neuronetics, Inc. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Madryn Asset Management LP acquired a new stake in shares of Neuronetics during the 2nd quarter worth approximately $24,102,634. BlackRock Inc. purchased a new position in Neuronetics in the 2nd quarter valued at approximately $776,000. FourWorld Capital Management LLC increased its position in shares of Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after acquiring an additional 558,072 shares during the period. AdvisorShares Investments LLC increased its holdings in Neuronetics by 127.8% during the 1st quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock worth $895,000 after purchasing an additional 346,277 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Neuronetics during the first quarter worth about $161,000. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

STIM has been the subject of several recent research reports. B. Riley Financial assumed coverage on Neuronetics in a research report on Friday, September 11th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. BTIG Research reaffirmed a “buy” rating and set a $6.00 price objective on shares of Neuronetics in a research report on Thursday, September 17th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.