Neuronetics, Inc. (NASDAQ:STIM) Short Interest Up 77.8% in March

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 94,600 shares, an increase of 77.8% from the March 15th total of 53,200 shares. Based on an average trading volume of 199,100 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

A number of brokerages have commented on STIM. Piper Sandler reissued an "overweight" rating and issued a $8.00 price objective (up from $7.00) on shares of Neuronetics in a research note on Wednesday, March 6th. William Blair reissued a "market perform" rating on shares of Neuronetics in a research note on Tuesday, March 26th.

Neuronetics Price Performance

STIM remained flat at $4.32 on Friday. 221,313 shares of the company were exchanged, compared to its average volume of 198,589. Neuronetics has a one year low of $1.03 and a one year high of $5.07. The firm has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $2.64. The firm has a market capitalization of $128.56 million, a P/E ratio of -4.04 and a beta of 2.44. 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 (NASDAQ:STIM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.31 million during the quarter, compared to analyst estimates of $19.73 million. During the same quarter in the previous year, the business posted ($0.30) EPS. On average, equities analysts forecast that Neuronetics will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, CEO Keith J. Sullivan sold 23,958 shares of Neuronetics stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $2.96, for a total value of $70,915.68. Following the sale, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Neuronetics news, EVP William Andrew Macan sold 22,377 shares of Neuronetics stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $3.16, for a total value of $70,711.32. Following the sale, the executive vice president now directly owns 395,359 shares in the company, valued at approximately $1,249,334.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith J. Sullivan sold 23,958 shares of Neuronetics stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $2.96, for a total transaction of $70,915.68. Following the completion of the sale, the chief executive officer now owns 1,434,171 shares in the company, valued at $4,245,146.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,279 shares of company stock worth $489,167. Insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Neuronetics

Several large investors have recently modified their holdings of STIM. Envestnet Asset Management Inc. raised its holdings in shares of Neuronetics by 131.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 80,811 shares of the company's stock valued at $245,000 after purchasing an additional 45,928 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Neuronetics by 12.2% in the 1st quarter. Blair William & Co. IL now owns 193,723 shares of the company's stock valued at $587,000 after purchasing an additional 21,137 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Neuronetics by 3.3% in the 1st quarter. Gabelli Funds LLC now owns 254,077 shares of the company's stock valued at $770,000 after purchasing an additional 8,200 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Neuronetics in the 1st quarter valued at about $2,667,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Neuronetics in the 1st quarter valued at about $564,000. Institutional investors own 53.59% of the company's stock.

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.