NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Large Growth in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 206,623 shares, a growth of 169.4% from the January 29th total of 76,711 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 201,898 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 201,898 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NMTC shares. Zacks Research upgraded NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Wall Street Zen upgraded shares of NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.23.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Sio Capital Management LLC bought a new position in NeuroOne Medical Technologies during the 2nd quarter worth $2,390,000. Vanguard Group Inc. increased its stake in shares of NeuroOne Medical Technologies by 31.2% in the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock valued at $1,403,000 after buying an additional 375,639 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of NeuroOne Medical Technologies during the fourth quarter worth about $143,000. Virtu Financial LLC bought a new position in shares of NeuroOne Medical Technologies during the third quarter worth about $88,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of NeuroOne Medical Technologies in the first quarter worth approximately $84,000. 16.07% of the stock is currently owned by institutional investors and hedge funds.

NeuroOne Medical Technologies Stock Performance

Shares of NMTC opened at $0.67 on Friday. NeuroOne Medical Technologies has a 52-week low of $0.40 and a 52-week high of $1.16. The firm has a market capitalization of $33.88 million, a PE ratio of -3.94 and a beta of 0.71. The stock has a 50 day simple moving average of $0.81 and a 200 day simple moving average of $0.80.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, February 17th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $2.89 million for the quarter, compared to analysts’ expectations of $2.47 million. NeuroOne Medical Technologies had a negative return on equity of 119.92% and a negative net margin of 78.34%.

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.