Cannell Capital Llc Sells 8,970 Shares of Neuronetics, Inc. (NASDAQ:STIM) Stock

Posted by Defense World Staff on Jan 15th, 2023

Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc sold 8,970 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $6.45, for a total transaction of $57,856.50. Following the sale, the insider now directly owns 2,959,534 shares of the company’s stock, valued at approximately $19,088,994.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cannell Capital Llc also recently made the following trade(s):

On Friday, January 13th, Cannell Capital Llc sold 4,896 shares of Neuronetics stock. The stock was sold at an average price of $6.30, for a total transaction of $30,844.80.
On Monday, January 9th, Cannell Capital Llc sold 141,664 shares of Neuronetics stock. The stock was sold at an average price of $6.59, for a total transaction of $933,565.76.
On Thursday, January 5th, Cannell Capital Llc sold 33,267 shares of Neuronetics stock. The shares were sold at an average price of $6.29, for a total transaction of $209,249.43.
On Tuesday, January 3rd, Cannell Capital Llc sold 16,440 shares of Neuronetics stock. The shares were sold at an average price of $6.66, for a total transaction of $109,490.40.
On Tuesday, December 27th, Cannell Capital Llc sold 6,161 shares of Neuronetics stock. The shares were sold at an average price of $6.01, for a total transaction of $37,027.61.
On Friday, December 23rd, Cannell Capital Llc sold 6,513 shares of Neuronetics stock. The stock was sold at an average price of $6.02, for a total transaction of $39,208.26.
On Wednesday, December 21st, Cannell Capital Llc sold 7,311 shares of Neuronetics stock. The stock was sold at an average price of $6.31, for a total transaction of $46,132.41.
On Monday, December 19th, Cannell Capital Llc sold 13,032 shares of Neuronetics stock. The stock was sold at an average price of $6.35, for a total transaction of $82,753.20.

Neuronetics Stock Down 0.5 %

Shares of NASDAQ STIM opened at $6.27 on Friday. The company has a market capitalization of $170.67 million, a P/E ratio of -4.58 and a beta of 2.12. Neuronetics, Inc. has a 52-week low of $1.98 and a 52-week high of $6.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.68 and a current ratio of 4.02. The company’s 50 day moving average price is $5.91 and its 200-day moving average price is $4.33.

Neuronetics (NASDAQ:STIM – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.16. Neuronetics had a negative net margin of 58.85% and a negative return on equity of 49.80%. The company had revenue of $16.50 million for the quarter, compared to the consensus estimate of $14.79 million. Equities analysts forecast that Neuronetics, Inc. will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price target on shares of Neuronetics from $9.00 to $10.00 in a research report on Wednesday, November 9th.

Institutional Trading of Neuronetics

A number of hedge funds and other institutional investors have recently bought and sold shares of STIM. Envestnet Asset Management Inc. grew its stake 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 worth $245,000 after acquiring an additional 45,928 shares in the last quarter. Blair William & Co. IL grew its position in Neuronetics by 12.2% during the first quarter. Blair William & Co. IL now owns 193,723 shares of the company’s stock valued at $587,000 after buying an additional 21,137 shares during the period. Gabelli Funds LLC grew its position in Neuronetics by 3.3% during the first quarter. Gabelli Funds LLC now owns 254,077 shares of the company’s stock valued at $770,000 after buying an additional 8,200 shares during the period. Nantahala Capital Management LLC bought a new position in Neuronetics during the first quarter valued at about $2,667,000. Finally, Renaissance Technologies LLC bought a new position in Neuronetics during the first quarter valued at about $564,000. Institutional investors own 62.90% of the company’s stock.

About Neuronetics

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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.