Neuronetics Inc (NASDAQ:STIM) Sees Large Decline in Short Interest

Neuronetics Inc (NASDAQ:STIM) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 246,900 shares, a decrease of 11.1% from the December 15th total of 277,700 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 146,400 shares, the days-to-cover ratio is presently 1.7 days.

In other Neuronetics news, VP Gregory Harper bought 10,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $4.40 per share, with a total value of $44,000.00. Following the transaction, the vice president now owns 75,480 shares of the company’s stock, valued at $332,112. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen Furlong purchased 22,959 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $101,019.60. Over the last quarter, insiders have bought 77,459 shares of company stock valued at $341,135. Company insiders own 12.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in shares of Neuronetics by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,506 shares of the company’s stock worth $394,000 after purchasing an additional 1,270 shares during the last quarter. Northern Trust Corp grew its position in shares of Neuronetics by 4.6% during the 2nd quarter. Northern Trust Corp now owns 133,618 shares of the company’s stock worth $1,671,000 after purchasing an additional 5,877 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Neuronetics during the 3rd quarter worth approximately $57,000. Millennium Management LLC grew its position in shares of Neuronetics by 24.8% during the 3rd quarter. Millennium Management LLC now owns 35,808 shares of the company’s stock worth $297,000 after purchasing an additional 7,124 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Neuronetics during the 3rd quarter worth approximately $172,000. Institutional investors own 78.71% of the company’s stock.

Shares of STIM stock traded up $0.16 during midday trading on Thursday, hitting $4.35. The company had a trading volume of 1,623 shares, compared to its average volume of 128,076. The company’s 50 day simple moving average is $4.42 and its 200 day simple moving average is $8.32. Neuronetics has a 52-week low of $3.96 and a 52-week high of $18.45. The stock has a market cap of $77.51 million, a price-to-earnings ratio of -1.61 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.36 and a quick ratio of 4.23.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.04. Neuronetics had a negative return on equity of 44.10% and a negative net margin of 45.35%. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $16.13 million. Analysts anticipate that Neuronetics will post -1.63 EPS for the current year.

STIM has been the topic of a number of research reports. ValuEngine upgraded Neuronetics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Piper Jaffray Companies restated a “buy” rating on shares of Neuronetics in a research note on Friday, December 6th. BTIG Research dropped their price target on Neuronetics to $11.00 and set an “average” rating on the stock in a research note on Wednesday, November 6th. Finally, Zacks Investment Research downgraded Neuronetics from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders in the United States, Japan, and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.

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