NeuroOne Medical Technologies (NASDAQ:NMTC) Trading Up 0.6% – Here’s Why

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC)’s stock price was up 0.6% on Monday . The company traded as high as $3.53 and last traded at $3.46. Approximately 35,919 shares changed hands during trading, an increase of 6% from the average daily volume of 33,939 shares. The stock had previously closed at $3.44.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NMTC shares. Weiss Ratings cut shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. JonesTrading started coverage on shares of NeuroOne Medical Technologies in a research report on Monday, March 2nd. They set a “buy” rating and a $9.00 price objective for the company. Zacks Research cut shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. LADENBURG THALM/SH SH increased their price objective on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.67.

NeuroOne Medical Technologies Stock Performance

The company has a market cap of $28.62 million, a PE ratio of -3.91 and a beta of 0.51. The company’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $4.48.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative net margin of 68.35% and a negative return on equity of 98.33%. The business had revenue of $2.39 million during the quarter, compared to analysts’ expectations of $2.58 million. Analysts forecast that NeuroOne Medical Technologies Corporation will post -0.35 EPS for the current year.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legato Capital Management LLC purchased a new position in NeuroOne Medical Technologies in the 4th quarter valued at approximately $34,000. Squarepoint Ops LLC purchased a new position in NeuroOne Medical Technologies in the 4th quarter valued at approximately $36,000. Susquehanna International Group LLP purchased a new position in NeuroOne Medical Technologies in the 3rd quarter valued at approximately $47,000. XTX Topco Ltd purchased a new position in NeuroOne Medical Technologies in the 2nd quarter valued at approximately $51,000. Finally, Goldman Sachs Group Inc. purchased a new position in NeuroOne Medical Technologies in the 1st quarter valued at approximately $84,000. Hedge funds and other institutional investors own 16.07% of the company’s stock.

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.