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

Neuronetics, Inc. (NASDAQ:STIM) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 969,100 shares, an increase of 31.9% from the October 31st total of 735,000 shares. Based on an average daily volume of 446,000 shares, the short-interest ratio is presently 2.2 days.

Neuronetics Stock Performance

STIM traded up $0.04 during mid-day trading on Friday, reaching $1.00. 141,951 shares of the company traded hands, compared to its average volume of 296,516. The stock has a market capitalization of $30.35 million, a P/E ratio of -0.81 and a beta of 2.21. The company has a quick ratio of 2.87, a current ratio of 3.16 and a debt-to-equity ratio of 4.90. The company’s fifty day moving average price is $0.91 and its 200-day moving average price is $1.37. Neuronetics has a 52-week low of $0.52 and a 52-week high of $5.07.

Insider Activity at Neuronetics

In other news, Director Robert Cascella acquired 100,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $0.75 per share, with a total value of $75,000.00. Following the transaction, the director now owns 453,098 shares in the company, valued at $339,823.50. The trade was a 28.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 9.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neuronetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its stake in Neuronetics by 88.2% during the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock valued at $86,000 after buying an additional 22,500 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Neuronetics during the 2nd quarter valued at $44,000. GSA Capital Partners LLP raised its stake in Neuronetics by 64.5% during the 3rd quarter. GSA Capital Partners LLP now owns 78,642 shares of the company’s stock valued at $60,000 after buying an additional 30,837 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Neuronetics by 97.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock worth $173,000 after purchasing an additional 47,228 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Neuronetics by 63.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 135,746 shares of the company’s stock worth $244,000 after purchasing an additional 52,450 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JMP Securities dropped their price target on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 14th. Canaccord Genuity Group lowered their price objective on Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, William Blair reaffirmed a “market perform” rating on shares of Neuronetics in a research report on Monday, August 12th.

Neuronetics Company Profile

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.