Insider Buying: Neuronetics, Inc. (NASDAQ:STIM) Major Shareholder Purchases $65,465.52 in Stock

Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc purchased 26,612 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was bought at an average price of $2.46 per share, with a total value of $65,465.52. Following the transaction, the insider now owns 3,422,675 shares of the company’s stock, valued at approximately $8,419,780.50. The purchase was disclosed in a legal filing with the SEC, which is accessible 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.

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

• On Wednesday, May 25th, Cannell Capital Llc bought 4,680 shares of Neuronetics stock. The shares were acquired at an average price of $2.44 per share, with a total value of $11,419.20.
• On Friday, May 20th, Cannell Capital Llc bought 15,369 shares of Neuronetics stock. The shares were acquired at an average price of $2.41 per share, with a total value 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 price of $2.33 per share, with a total value 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 price of $2.13 per share, with a total value of $226,749.15.
• On Monday, May 9th, Cannell Capital Llc purchased 7,094 shares of Neuronetics stock. The shares were bought at an average cost of $2.31 per share, with a total value of $16,387.14.
• On Friday, May 6th, Cannell Capital Llc purchased 10,000 shares of Neuronetics stock. The shares were bought at an average cost of $2.42 per share, with a total value of $24,200.00.
• On Wednesday, May 4th, Cannell Capital Llc purchased 20,000 shares of Neuronetics stock. The shares were bought at an average cost of $2.47 per share, with a total value of $49,400.00.
• On Monday, May 2nd, Cannell Capital Llc purchased 5,429 shares of Neuronetics stock. The shares were bought at an average cost of $2.48 per share, with a total value of $13,463.92.
• On Monday, April 25th, Cannell Capital Llc purchased 1,704 shares of Neuronetics stock. The shares were bought at an average cost of $2.79 per share, with a total value of $4,754.16.
• On Friday, April 22nd, Cannell Capital Llc purchased 1,555 shares of Neuronetics stock. The stock was bought at an average price of $2.85 per share, for a total transaction of $4,431.75.

Shares of STIM stock opened at $2.87 on Friday. Neuronetics, Inc. has a 1-year low of $1.98 and a 1-year high of $17.92. The stock’s 50-day moving average is $2.77 and its 200 day moving average is $3.44. The company has a market cap of $76.42 million, a P/E ratio of -2.21 and a beta of 2.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 7.82 and a quick ratio of 7.25.

Neuronetics (NASDAQ:STIM – Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Neuronetics had a negative net margin of 59.70% and a negative return on equity of 39.03%. During the same period in the prior year, the company posted ($0.31) EPS. On average, analysts anticipate that Neuronetics, Inc. will post -1.71 EPS for the current year.

Separately, Zacks Investment Research downgraded Neuronetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.06.

A number of hedge funds and other institutional investors have recently modified their holdings of STIM. Bank of America Corp DE boosted its holdings in Neuronetics by 710.4% in the second quarter. Bank of America Corp DE now owns 8,112 shares of the company’s stock worth $130,000 after acquiring an additional 7,111 shares in the last quarter. BlackRock Inc. boosted its holdings in Neuronetics by 3.0% in the third quarter. BlackRock Inc. now owns 1,571,700 shares of the company’s stock worth $10,310,000 after acquiring an additional 45,723 shares in the last quarter. Barclays PLC boosted its holdings in Neuronetics by 230.1% in the third quarter. Barclays PLC now owns 10,429 shares of the company’s stock worth $69,000 after acquiring an additional 7,270 shares in the last quarter. Citigroup Inc. boosted its holdings in Neuronetics by 223.8% in the third quarter. Citigroup Inc. now owns 4,177 shares of the company’s stock worth $27,000 after acquiring an additional 2,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Neuronetics by 51.7% in the third quarter. Goldman Sachs Group Inc. now owns 176,842 shares of the company’s stock worth $1,160,000 after acquiring an additional 60,256 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

About Neuronetics (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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