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

Neuronetics, Inc. (NASDAQ:STIM) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 969,100 shares, a growth of 31.9% from the October 31st total of 735,000 shares. Based on an average daily trading volume, of 446,000 shares, the short-interest ratio is presently 2.2 days.

Insiders Place Their Bets

In other Neuronetics news, Director Robert Cascella purchased 100,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $0.75 per share, for a total transaction of $75,000.00. Following the purchase, the director now owns 453,098 shares of the company’s stock, valued at approximately $339,823.50. This represents a 28.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First Washington CORP increased its position in shares of Neuronetics by 88.8% during the second quarter. First Washington CORP now owns 1,274,540 shares of the company’s stock worth $2,294,000 after acquiring an additional 599,455 shares during the period. First Eagle Investment Management LLC lifted its position in Neuronetics by 33.4% during the second quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company’s stock valued at $1,870,000 after acquiring an additional 260,000 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Neuronetics by 124.5% in the 2nd quarter. Renaissance Technologies LLC now owns 322,200 shares of the company’s stock worth $580,000 after purchasing an additional 178,700 shares in the last quarter. HighTower Advisors LLC boosted its stake in Neuronetics by 55.5% in the 3rd quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock worth $187,000 after purchasing an additional 87,816 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Neuronetics in the third quarter valued at about $53,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

STIM has been the subject of a number of analyst reports. William Blair reiterated a “market perform” rating on shares of Neuronetics in a research note on Monday, August 12th. Canaccord Genuity Group dropped their price objective on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, JMP Securities lowered their price target on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating for the company in a report on Wednesday, August 14th.

Neuronetics Trading Up 3.8 %

Shares of NASDAQ:STIM traded up $0.04 during trading on Friday, reaching $1.00. The company’s stock had a trading volume of 141,951 shares, compared to its average volume of 296,516. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. Neuronetics has a 12 month low of $0.52 and a 12 month high of $5.07. The firm’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $1.37. The stock has a market capitalization of $30.35 million, a PE ratio of -0.81 and a beta of 2.21.

About Neuronetics

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.