Insider Buying: Neuronetics, Inc. (NASDAQ:STIM) Major Shareholder Acquires 4,680 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIMGet Rating) major shareholder Cannell Capital Llc bought 4,680 shares of Neuronetics stock in a transaction that occurred on Wednesday, May 25th. The shares were acquired at an average cost of $2.44 per share, for a total transaction of $11,419.20. Following the acquisition, the insider now owns 3,432,186 shares in the company, valued at approximately $8,374,533.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cannell Capital Llc also recently made the following trade(s):

  • On Monday, May 23rd, Cannell Capital Llc bought 26,612 shares of Neuronetics stock. The shares were acquired at an average cost of $2.46 per share, for a total transaction of $65,465.52.
  • On Friday, May 20th, Cannell Capital Llc bought 15,369 shares of Neuronetics stock. The shares were acquired at an average cost of $2.41 per share, for a total transaction of $37,039.29.
  • On Wednesday, May 18th, Cannell Capital Llc bought 47,144 shares of Neuronetics stock. The shares were acquired at an average cost of $2.33 per share, for a total transaction of $109,845.52.
  • On Wednesday, May 11th, Cannell Capital Llc bought 106,455 shares of Neuronetics stock. The shares were acquired at an average cost of $2.13 per share, for a total transaction of $226,749.15.
  • On Monday, May 9th, Cannell Capital Llc bought 7,094 shares of Neuronetics stock. The shares were acquired at an average cost of $2.31 per share, for a total transaction of $16,387.14.
  • On Friday, May 6th, Cannell Capital Llc purchased 10,000 shares of Neuronetics stock. The stock was purchased at an average cost of $2.42 per share, for a total transaction of $24,200.00.
  • On Wednesday, May 4th, Cannell Capital Llc purchased 20,000 shares of Neuronetics stock. The stock was purchased at an average cost of $2.47 per share, for a total transaction of $49,400.00.
  • On Monday, May 2nd, Cannell Capital Llc purchased 5,429 shares of Neuronetics stock. The stock was purchased at an average cost of $2.48 per share, for a total transaction of $13,463.92.
  • On Monday, April 25th, Cannell Capital Llc purchased 1,704 shares of Neuronetics stock. The stock was purchased at an average cost of $2.79 per share, for a total transaction of $4,754.16.
  • On Friday, April 22nd, Cannell Capital Llc purchased 1,555 shares of Neuronetics stock. The stock was purchased at an average cost of $2.85 per share, for a total transaction of $4,431.75.

NASDAQ:STIM opened at $2.87 on Friday. The company has a 50-day moving average price of $2.77 and a 200-day moving average price of $3.44. Neuronetics, Inc. has a 12 month low of $1.98 and a 12 month high of $17.92. The company has a current ratio of 7.82, a quick ratio of 7.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $76.42 million, a price-to-earnings ratio of -2.21 and a beta of 2.31.

Neuronetics (NASDAQ:STIMGet Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Neuronetics had a negative return on equity of 39.03% and a negative net margin of 59.70%. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. Equities analysts forecast that Neuronetics, Inc. will post -1.71 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC lifted its position in Neuronetics by 3.3% during the 1st quarter. Gabelli Funds LLC now owns 254,077 shares of the company’s stock valued at $770,000 after acquiring an additional 8,200 shares during the period. Cannell Capital LLC lifted its position in Neuronetics by 4.5% during the 1st quarter. Cannell Capital LLC now owns 2,750,353 shares of the company’s stock valued at $8,334,000 after acquiring an additional 118,131 shares during the period. Quinn Opportunity Partners LLC purchased a new position in Neuronetics during the 1st quarter valued at about $99,000. Royal Bank of Canada lifted its position in Neuronetics by 61.4% during the 1st quarter. Royal Bank of Canada now owns 170,833 shares of the company’s stock valued at $518,000 after acquiring an additional 64,983 shares during the period. Finally, RBF Capital LLC lifted its position in Neuronetics by 14.2% during the 1st quarter. RBF Capital LLC now owns 142,785 shares of the company’s stock valued at $433,000 after acquiring an additional 17,785 shares during the period. 75.18% of the stock is owned by institutional investors.

Separately, Zacks Investment Research cut shares of Neuronetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.06.

Neuronetics Company Profile (Get Rating)

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth 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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