Neuronetics, Inc. (NASDAQ:STIM) Sees Significant Drop in Short Interest

Neuronetics, Inc. (NASDAQ:STIM) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 312,900 shares, a decrease of 35.8% from the December 15th total of 487,400 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 413,300 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Neuronetics

A number of institutional investors have recently modified their holdings of STIM. HighTower Advisors LLC boosted its holdings in shares of Neuronetics by 55.5% in the 3rd quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock valued at $187,000 after buying an additional 87,816 shares during the period. Landscape Capital Management L.L.C. bought a new position in Neuronetics in the third quarter worth about $53,000. GSA Capital Partners LLP boosted its stake in Neuronetics by 64.5% in the third quarter. GSA Capital Partners LLP now owns 78,642 shares of the company’s stock valued at $60,000 after acquiring an additional 30,837 shares during the period. Gabelli Funds LLC grew its holdings in shares of Neuronetics by 88.2% during the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock valued at $86,000 after purchasing an additional 22,500 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Neuronetics by 33.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company’s stock worth $1,870,000 after purchasing an additional 260,000 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

Neuronetics Stock Up 36.8 %

Shares of Neuronetics stock opened at $2.34 on Tuesday. Neuronetics has a 1-year low of $0.52 and a 1-year high of $5.07. The company has a market capitalization of $71.01 million, a PE ratio of -1.90 and a beta of 2.11. The company has a debt-to-equity ratio of 4.90, a current ratio of 3.16 and a quick ratio of 2.87. The business has a 50-day moving average of $1.18 and a 200-day moving average of $1.21.

About Neuronetics

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.