Neuronetics Inc (NASDAQ:STIM) Short Interest Update

Neuronetics Inc (NASDAQ:STIM) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 609,000 shares, a decline of 31.0% from the May 15th total of 882,000 shares. Approximately 7.7% of the company’s stock are short sold. Based on an average daily volume of 100,300 shares, the short-interest ratio is presently 6.1 days.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Neuronetics from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. Piper Jaffray Companies decreased their price target on shares of Neuronetics from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Neuronetics in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.60.

Neuronetics stock traded down $1.13 during trading on Wednesday, reaching $10.80. The stock had a trading volume of 86,200 shares, compared to its average volume of 119,362. Neuronetics has a 52-week low of $8.90 and a 52-week high of $39.39. The firm has a 50 day moving average of $12.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 8.74 and a current ratio of 8.94. The stock has a market capitalization of $229.40 million and a PE ratio of -4.01.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). Neuronetics had a negative return on equity of 1,385.60% and a negative net margin of 47.21%. The firm had revenue of $12.73 million during the quarter, compared to analysts’ expectations of $12.72 million. As a group, sell-side analysts expect that Neuronetics will post -1.64 EPS for the current fiscal year.

In related news, insider Christopher Thatcher sold 15,000 shares of Neuronetics stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $16.82, for a total value of $252,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter Donato sold 23,053 shares of Neuronetics stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.27, for a total transaction of $352,019.31. The disclosure for this sale can be found here. Insiders sold 50,333 shares of company stock valued at $786,186 in the last 90 days. Company insiders own 12.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Granite Investment Partners LLC acquired a new stake in Neuronetics in the first quarter valued at approximately $722,000. Alambic Investment Management L.P. acquired a new stake in Neuronetics in the first quarter valued at approximately $310,000. Wasatch Advisors Inc. grew its position in Neuronetics by 23.5% in the first quarter. Wasatch Advisors Inc. now owns 313,954 shares of the company’s stock valued at $4,788,000 after acquiring an additional 59,740 shares in the last quarter. Rhumbline Advisers acquired a new stake in Neuronetics in the first quarter valued at approximately $204,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Neuronetics in the first quarter valued at approximately $41,000. Institutional investors own 80.61% of the company’s stock.

About Neuronetics

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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