Neuronetics, Inc. (NASDAQ:STIM) Short Interest Update

Neuronetics, Inc. (NASDAQ:STIM) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 8,588,113 shares, a growth of 20.0% from the January 15th total of 7,159,363 shares. Currently, 13.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,084,185 shares, the short-interest ratio is presently 7.9 days. Based on an average daily trading volume, of 1,084,185 shares, the short-interest ratio is presently 7.9 days. Currently, 13.9% of the shares of the stock are sold short.

Insider Transactions at Neuronetics

In related news, CEO Keith J. Sullivan sold 40,976 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total transaction of $63,512.80. Following the sale, the chief executive officer owned 1,567,012 shares of the company’s stock, valued at $2,428,868.60. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 92,428 shares of company stock valued at $148,060. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. David J Yvars Group boosted its stake in shares of Neuronetics by 22.1% during the 4th quarter. David J Yvars Group now owns 31,230 shares of the company’s stock valued at $43,000 after buying an additional 5,650 shares during the period. National Bank of Canada FI grew its stake in Neuronetics by 27.5% in the third quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock valued at $87,000 after purchasing an additional 6,880 shares in the last quarter. Royal Bank of Canada increased its position in Neuronetics by 17.7% in the 4th quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock worth $65,000 after purchasing an additional 7,099 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Neuronetics during the 2nd quarter worth about $34,000. Finally, Barclays PLC raised its stake in shares of Neuronetics by 19.2% during the 4th quarter. Barclays PLC now owns 61,606 shares of the company’s stock worth $85,000 after purchasing an additional 9,941 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Trading Down 3.5%

Neuronetics stock opened at $1.38 on Thursday. Neuronetics has a 52 week low of $1.25 and a 52 week high of $5.92. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.09 and a current ratio of 2.24. The firm has a market capitalization of $94.52 million, a price-to-earnings ratio of -1.68 and a beta of 0.79. The company has a 50 day moving average price of $1.69 and a 200 day moving average price of $2.38.

Wall Street Analysts Forecast Growth

STIM has been the subject of several research reports. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.00.

Neuronetics Company Profile

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.