Neuronetics, Inc. (NASDAQ:STIM) Short Interest Up 39.7% in March

Neuronetics, Inc. (NASDAQ:STIM) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 2,780,000 shares, a growth of 39.7% from the February 28th total of 1,990,000 shares. Approximately 10.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,440,000 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, CFO Stephen Furlong sold 17,307 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $4.11, for a total value of $71,131.77. Following the transaction, the chief financial officer now directly owns 454,420 shares in the company, valued at $1,867,666.20. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Andrew Macan sold 12,175 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total transaction of $46,630.25. Following the completion of the sale, the executive vice president now directly owns 388,647 shares in the company, valued at $1,488,518.01. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,369 shares of company stock valued at $358,929 in the last quarter. 9.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neuronetics

Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC increased its position in shares of Neuronetics by 55.5% during the third quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock valued at $187,000 after buying an additional 87,816 shares during the period. David J Yvars Group increased its stake in shares of Neuronetics by 47.1% in the 4th quarter. David J Yvars Group now owns 46,325 shares of the company’s stock worth $75,000 after acquiring an additional 14,825 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Neuronetics by 10,954.1% during the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company’s stock valued at $88,000 after acquiring an additional 54,442 shares during the period. Tradewinds LLC. bought a new stake in Neuronetics during the fourth quarter worth about $32,000. Finally, Geode Capital Management LLC boosted its stake in Neuronetics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 314,076 shares of the company’s stock worth $506,000 after acquiring an additional 8,466 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Neuronetics Trading Down 3.3 %

NASDAQ:STIM traded down $0.13 during midday trading on Monday, reaching $3.65. 530,936 shares of the stock traded hands, compared to its average volume of 627,357. The company has a debt-to-equity ratio of 4.90, a quick ratio of 2.87 and a current ratio of 3.16. The stock has a market capitalization of $110.62 million, a P/E ratio of -2.97 and a beta of 2.07. Neuronetics has a 12 month low of $0.52 and a 12 month high of $5.92. The company has a fifty day moving average of $4.03 and a 200 day moving average of $2.15.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price target on shares of Neuronetics from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th.

Neuronetics Company Profile

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.