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

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 53,200 shares, a drop of 64.9% from the February 29th total of 151,700 shares. Based on an average trading volume of 204,300 shares, the days-to-cover ratio is presently 0.3 days.

Neuronetics Price Performance

STIM stock traded down $0.04 during mid-day trading on Thursday, hitting $4.76. The stock had a trading volume of 64,274 shares, compared to its average volume of 199,160. The company has a current ratio of 4.73, a quick ratio of 4.33 and a debt-to-equity ratio of 1.73. Neuronetics has a 52 week low of $1.03 and a 52 week high of $4.99. The firm has a market capitalization of $141.66 million, a P/E ratio of -4.45 and a beta of 2.38. The firm has a fifty day simple moving average of $3.61 and a 200 day simple moving average of $2.40.

Neuronetics (NASDAQ:STIM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. Neuronetics had a negative net margin of 42.31% and a negative return on equity of 72.76%. The company had revenue of $20.31 million for the quarter, compared to the consensus estimate of $19.73 million. During the same period last year, the company posted ($0.30) EPS. As a group, research analysts forecast that Neuronetics will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on STIM. William Blair reaffirmed a "market perform" rating on shares of Neuronetics in a research report on Tuesday. Piper Sandler reissued an "overweight" rating and issued a $8.00 target price (up from $7.00) on shares of Neuronetics in a report on Wednesday, March 6th.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, CEO Keith J. Sullivan sold 10,013 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $3.01, for a total value of $30,139.13. Following the completion of the sale, the chief executive officer now owns 1,167,645 shares in the company, valued at $3,514,611.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Stephen Furlong sold 14,710 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $3.51, for a total value of $51,632.10. Following the transaction, the chief financial officer now directly owns 509,033 shares of the company's stock, valued at $1,786,705.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith J. Sullivan sold 10,013 shares of the firm's stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $3.01, for a total transaction of $30,139.13. Following the transaction, the chief executive officer now directly owns 1,167,645 shares in the company, valued at $3,514,611.45. The disclosure for this sale can be found here. Insiders sold a total of 160,292 shares of company stock worth $519,307 over the last quarter. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neuronetics

A number of hedge funds have recently made changes to their positions in STIM. Worth Venture Partners LLC acquired a new stake in Neuronetics during the 4th quarter worth approximately $30,000. Wolverine Trading LLC acquired a new stake in Neuronetics during the 4th quarter worth approximately $32,000. Portside Wealth Group LLC acquired a new stake in Neuronetics during the 2nd quarter worth approximately $36,000. Tower Research Capital LLC TRC boosted its position in Neuronetics by 577.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 12,831 shares of the company's stock worth $37,000 after buying an additional 10,936 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Neuronetics by 44.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,113 shares of the company's stock worth $49,000 after buying an additional 4,670 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.