Neuronetics, Inc. (NASDAQ:STIM) Short Interest Update

Neuronetics, Inc. (NASDAQ:STIM) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 599,200 shares, a growth of 28.7% from the March 31st total of 465,600 shares. Based on an average daily volume of 493,300 shares, the days-to-cover ratio is currently 1.2 days.

In other news, CFO Stephen Furlong sold 6,521 shares of the business’s stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $14.64, for a total transaction of $95,467.44. Following the sale, the chief financial officer now owns 289,971 shares in the company, valued at $4,245,175.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory Harper sold 5,524 shares of the business’s stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $14.65, for a total transaction of $80,926.60. Following the sale, the vice president now owns 162,554 shares in the company, valued at approximately $2,381,416.10. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in shares of Neuronetics by 14.9% in the 4th quarter. Wells Fargo & Company MN now owns 9,295 shares of the company’s stock worth $103,000 after purchasing an additional 1,206 shares during the last quarter. Blair William & Co. IL grew its holdings in Neuronetics by 1.2% during the 4th quarter. Blair William & Co. IL now owns 145,335 shares of the company’s stock worth $1,615,000 after acquiring an additional 1,667 shares during the last quarter. Morgan Stanley grew its holdings in Neuronetics by 13.5% during the 3rd quarter. Morgan Stanley now owns 64,854 shares of the company’s stock worth $315,000 after acquiring an additional 7,723 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Neuronetics by 14.2% during the 4th quarter. Bank of New York Mellon Corp now owns 76,274 shares of the company’s stock worth $847,000 after acquiring an additional 9,505 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Neuronetics by 87.7% during the 4th quarter. LPL Financial LLC now owns 21,400 shares of the company’s stock worth $238,000 after acquiring an additional 10,000 shares during the last quarter. 63.80% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:STIM traded up $3.50 during trading hours on Tuesday, hitting $13.65. 91,971 shares of the company traded hands, compared to its average volume of 470,261. The stock has a market capitalization of $351.27 million, a price-to-earnings ratio of -7.83 and a beta of 3.05. Neuronetics has a twelve month low of $1.70 and a twelve month high of $22.43. The firm has a 50-day moving average of $12.32 and a 200 day moving average of $11.88.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Monday, March 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05. Neuronetics had a negative net margin of 61.44% and a negative return on equity of 88.76%. The company had revenue of $15.58 million during the quarter, compared to analysts’ expectations of $15.21 million. On average, analysts expect that Neuronetics will post -1.55 EPS for the current year.

A number of brokerages recently commented on STIM. William Blair raised shares of Neuronetics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 22nd. Piper Sandler decreased their target price on shares of Neuronetics from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, March 2nd. Zacks Investment Research raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 26th. JMP Securities boosted their target price on shares of Neuronetics from $15.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. Finally, BTIG Research boosted their price objective on shares of Neuronetics from $14.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, January 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.25.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders in the United States 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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