Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Rises By 20.1%

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,340,000 shares, a growth of 20.1% from the March 15th total of 2,780,000 shares. Approximately 12.2% of the company's shares are sold short. Based on an average trading volume of 1,630,000 shares, the short-interest ratio is currently 2.0 days.

Neuronetics Stock Up 5.7 %

NASDAQ:STIM traded up $0.24 during mid-day trading on Friday, hitting $4.48. The company had a trading volume of 853,063 shares, compared to its average volume of 691,408. Neuronetics has a 1 year low of $0.52 and a 1 year high of $5.92. The business has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $2.58. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. The firm has a market capitalization of $294.85 million, a price-to-earnings ratio of -3.64 and a beta of 1.97.

Insider Buying and Selling

In other Neuronetics news, CFO Stephen Furlong sold 17,307 shares of Neuronetics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $4.11, for a total value of $71,131.77. Following the transaction, the chief financial officer now owns 454,420 shares in the company, valued at $1,867,666.20. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith J. Sullivan sold 40,992 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $3.28, for a total transaction of $134,453.76. Following the sale, the chief executive officer now directly owns 1,283,362 shares of the company's stock, valued at $4,209,427.36. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,369 shares of company stock valued at $358,929. Insiders own 9.80% of the company's stock.

Institutional Investors Weigh In On Neuronetics

Several hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC raised its stake in shares of Neuronetics by 55.5% during the third quarter. HighTower Advisors LLC now owns 245,982 shares of the company's stock valued at $187,000 after purchasing an additional 87,816 shares during the period. Tradewinds LLC. acquired a new stake in Neuronetics during the 4th quarter valued at $32,000. David J Yvars Group increased its stake in Neuronetics by 47.1% during the 4th quarter. David J Yvars Group now owns 46,325 shares of the company's stock worth $75,000 after buying an additional 14,825 shares during the period. HBK Sorce Advisory LLC acquired a new position in Neuronetics in the 1st quarter worth $142,000. Finally, KPP Advisory Services LLC purchased a new position in Neuronetics in the 1st quarter valued at about $37,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their target price on Neuronetics from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th.

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.