NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Significant Decrease in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 12,127 shares, a decrease of 58.0% from the June 30th total of 28,845 shares. Based on an average daily volume of 25,743 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have commented on NMTC. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. LADENBURG THALM/SH SH increased their price objective on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.67.

NeuroOne Medical Technologies Price Performance

Shares of NASDAQ NMTC opened at $1.90 on Monday. The stock has a market capitalization of $16.53 million, a PE ratio of -2.24 and a beta of 0.54. The firm has a fifty day moving average of $3.17 and a 200-day moving average of $4.17. NeuroOne Medical Technologies has a 52-week low of $1.77 and a 52-week high of $6.96.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its earnings results on Tuesday, May 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative return on equity of 99.43% and a negative net margin of 68.35%.The firm had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $2.58 million. Equities research analysts expect that NeuroOne Medical Technologies will post -0.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Christianson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total transaction of $31,800.00. Following the sale, the director owned 20,692 shares in the company, valued at $65,800.56. This trade represents a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new position in shares of NeuroOne Medical Technologies in the 1st quarter valued at about $84,000. XTX Topco Ltd purchased a new stake in shares of NeuroOne Medical Technologies during the 2nd quarter worth about $51,000. Vanguard Group Inc. increased its position in NeuroOne Medical Technologies by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after purchasing an additional 375,639 shares in the last quarter. Virtu Financial LLC acquired a new stake in NeuroOne Medical Technologies during the 3rd quarter worth approximately $88,000. Finally, Susquehanna International Group LLP acquired a new stake in NeuroOne Medical Technologies during the 3rd quarter worth approximately $47,000. 16.07% of the stock is currently owned by hedge funds and other institutional investors.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.