Citizens Financial Group Inc. RI Takes $305,000 Position in Neuronetics, Inc. (NASDAQ:STIM)

Key Points

• Citizens Financial Group Inc. has made a significant investment of $305,000, acquiring 83,000 shares of Neuronetics, Inc. (NASDAQ:STIM), representing 0.13% ownership of the company.
• Neuronetics reported a quarterly loss of ($0.15) per share, missing the analyst consensus estimate of ($0.08), despite revenue of $38.11 million surpassing the expectations.
• Analysts at Canaccord Genuity Group have lowered their price target for Neuronetics from $8.00 to $7.00 while maintaining a "buy" rating.

Citizens Financial Group Inc. RI acquired a new position in Neuronetics, Inc. (NASDAQ:STIM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 83,000 shares of the company's stock, valued at approximately $305,000. Citizens Financial Group Inc. RI owned 0.13% of Neuronetics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its holdings in shares of Neuronetics by 29.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company's stock valued at $2,386,000 after acquiring an additional 337,539 shares in the last quarter. Nkcfo LLC purchased a new position in shares of Neuronetics during the 1st quarter valued at $460,000. Assenagon Asset Management S.A. acquired a new position in Neuronetics in the 1st quarter worth about $359,000. Kestra Private Wealth Services LLC acquired a new position in Neuronetics in the 1st quarter worth about $254,000. Finally, JPMorgan Chase & Co. increased its position in Neuronetics by 10,954.1% in the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after purchasing an additional 54,442 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

Neuronetics Stock Performance

Neuronetics stock traded down $0.06 during mid-day trading on Tuesday, reaching $3.86. The company had a trading volume of 1,485,230 shares, compared to its average volume of 1,210,703. The company has a quick ratio of 1.84, a current ratio of 2.02 and a debt-to-equity ratio of 1.76. Neuronetics, Inc. has a 52 week low of $0.52 and a 52 week high of $5.92. The company has a 50 day moving average of $3.83 and a 200-day moving average of $4.02. The firm has a market cap of $255.22 million, a price-to-earnings ratio of -3.42 and a beta of 1.78.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.07). The firm had revenue of $38.11 million during the quarter, compared to the consensus estimate of $36.80 million. Neuronetics had a negative return on equity of 156.36% and a negative net margin of 43.47%. On average, sell-side analysts expect that Neuronetics, Inc. will post -1.13 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on Neuronetics from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th.

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.