Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Drops By 26.2%

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 2,700,000 shares, a drop of 26.2% from the April 30th total of 3,660,000 shares. Approximately 9.9% of the company's shares are short sold. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is currently 2.4 days.

Neuronetics Trading Up 1.3%

Neuronetics stock traded up $0.05 during mid-day trading on Tuesday, reaching $3.86. 393,556 shares of the company traded hands, compared to its average volume of 755,854. The company has a debt-to-equity ratio of 4.90, a current ratio of 3.16 and a quick ratio of 2.87. Neuronetics has a 52-week low of $0.52 and a 52-week high of $5.92. The firm has a market capitalization of $254.07 million, a price-to-earnings ratio of -3.14 and a beta of 1.92. The firm's 50 day moving average price is $4.04 and its 200 day moving average price is $3.20.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). Neuronetics had a negative net margin of 50.09% and a negative return on equity of 141.24%. The company had revenue of $31.98 million for the quarter, compared to analysts' expectations of $29.07 million. On average, analysts anticipate that Neuronetics will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Neuronetics

In other news, EVP Stephen Furlong sold 193,460 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $4.27, for a total transaction of $826,074.20. Following the completion of the sale, the executive vice president now directly owns 416,593 shares in the company, valued at approximately $1,778,852.11. This represents a 31.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STIM. JPMorgan Chase & Co. boosted its position in shares of Neuronetics by 10,954.1% during the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock valued at $88,000 after purchasing an additional 54,442 shares in the last quarter. Tradewinds LLC. purchased a new position in Neuronetics during the fourth quarter valued at $32,000. Geode Capital Management LLC boosted its holdings in shares of Neuronetics by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 314,076 shares of the company's stock valued at $506,000 after buying an additional 8,466 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Neuronetics during the 4th quarter valued at $49,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Neuronetics by 29.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company's stock worth $2,386,000 after buying an additional 337,539 shares during the period. Institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price objective 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.