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

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 57,700 shares, a decline of 39.0% from the March 31st total of 94,600 shares. Based on an average daily volume of 170,500 shares, the days-to-cover ratio is currently 0.3 days.

Insiders Place Their Bets

In other Neuronetics news, EVP William Andrew Macan sold 22,377 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $3.16, for a total transaction of $70,711.32. Following the transaction, the executive vice president now owns 395,359 shares of the company's stock, valued at approximately $1,249,334.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Stephen Furlong sold 14,710 shares of the business's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $3.51, for a total transaction of $51,632.10. Following the transaction, the chief financial officer now directly owns 509,033 shares of the company's stock, valued at approximately $1,786,705.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Andrew Macan sold 22,377 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $3.16, for a total value of $70,711.32. Following the transaction, the executive vice president now directly owns 395,359 shares in the company, valued at $1,249,334.44. The disclosure for this sale can be found here. Insiders have sold 150,279 shares of company stock valued at $489,167 in the last 90 days. 9.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neuronetics

Institutional investors and hedge funds have recently bought and sold shares of the company. Worth Venture Partners LLC acquired a new stake in shares of Neuronetics in the fourth quarter valued at about $30,000. Fielder Capital Group LLC acquired a new stake in shares of Neuronetics in the fourth quarter valued at about $66,000. FNY Investment Advisers LLC acquired a new stake in shares of Neuronetics in the fourth quarter valued at about $87,000. G2 Investment Partners Management LLC acquired a new stake in shares of Neuronetics in the fourth quarter valued at about $213,000. Finally, David J Yvars Group increased its stake in shares of Neuronetics by 108.1% in the fourth quarter. David J Yvars Group now owns 74,930 shares of the company's stock valued at $217,000 after buying an additional 38,930 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

Neuronetics Price Performance

Shares of STIM stock traded down $0.03 on Friday, hitting $3.49. 44,573 shares of the company's stock were exchanged, compared to its average volume of 120,448. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.73 and a quick ratio of 4.33. Neuronetics has a 12 month low of $1.03 and a 12 month high of $5.07. The stock has a market cap of $104.63 million, a P/E ratio of -3.26 and a beta of 2.44. The company has a 50 day moving average of $3.93 and a 200 day moving average of $2.82.

Neuronetics (NASDAQ:STIM - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.07. Neuronetics had a negative return on equity of 72.76% and a negative net margin of 42.31%. The business had revenue of $20.31 million during the quarter, compared to analysts' expectations of $19.73 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. On average, equities research analysts predict that Neuronetics will post -0.92 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on STIM shares. Piper Sandler restated an "overweight" rating and issued a $8.00 price target (up from $7.00) on shares of Neuronetics in a research note on Wednesday, March 6th. William Blair reiterated a "market perform" rating on shares of Neuronetics in a research report on Tuesday, March 26th.

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.