Cannell Capital Llc Purchases 136,520 Shares of Neuronetics, Inc. (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc acquired 136,520 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $2.97 per share, with a total value of $405,464.40. Following the transaction, the insider now directly owns 3,068,103 shares of the company’s stock, valued at $9,112,265.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 Tuesday, March 7th, Cannell Capital Llc sold 7,746 shares of Neuronetics stock. The shares were sold at an average price of $4.71, for a total transaction of $36,483.66.
• On Tuesday, January 17th, Cannell Capital Llc sold 2,912 shares of Neuronetics stock. The shares were sold at an average price of $6.31, for a total transaction of $18,374.72.
• On Friday, January 13th, Cannell Capital Llc sold 4,896 shares of Neuronetics stock. The shares were sold at an average price of $6.30, for a total transaction of $30,844.80.
• On Wednesday, January 11th, Cannell Capital Llc sold 8,970 shares of Neuronetics stock. The shares were sold at an average price of $6.45, for a total transaction of $57,856.50.
• On Monday, January 9th, Cannell Capital Llc sold 141,664 shares of Neuronetics stock. The shares were 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 shares were 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 shares were sold at an average price of $6.31, for a total transaction of $46,132.41.

Neuronetics Stock Performance

NASDAQ STIM opened at $2.96 on Friday. The firm has a 50-day moving average of $5.53 and a 200-day moving average of $4.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.71 and a current ratio of 2.98. Neuronetics, Inc. has a 52-week low of $1.98 and a 52-week high of $6.95.

Institutional Trading of Neuronetics

Hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of Neuronetics by 776.5% during the 4th quarter. UBS Group AG now owns 9,194 shares of the company’s stock worth $63,000 after buying an additional 8,145 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Neuronetics during the 3rd quarter worth about $38,000. Algert Global LLC acquired a new stake in shares of Neuronetics during the 4th quarter worth about $85,000. Baker Tilly Wealth Management LLC acquired a new stake in shares of Neuronetics during the 3rd quarter worth about $40,000. Finally, AE Wealth Management LLC acquired a new stake in shares of Neuronetics during the 4th quarter worth about $88,000. Institutional investors and hedge funds own 62.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STIM. Canaccord Genuity Group cut their price target on shares of Neuronetics from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price target on shares of Neuronetics in a research note on Wednesday, March 8th.

Neuronetics Company Profile

(Get Rating)

Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.