Neuronetics, Inc. (NASDAQ:STIM) Sees Significant Decline in Short Interest

Neuronetics, Inc. (NASDAQ:STIM) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 57,700 shares, a decrease of 39.0% from the March 31st total of 94,600 shares. Based on an average daily volume of 170,500 shares, the days-to-cover ratio is presently 0.3 days.

Neuronetics Stock Down 0.9 %

STIM stock traded down $0.03 during trading on Friday, reaching $3.49. 44,573 shares of the company traded hands, compared to its average volume of 120,448. Neuronetics has a 12 month low of $1.03 and a 12 month high of $5.07. The business has a 50 day simple moving average of $3.93 and a 200 day simple moving average of $2.82. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.73 and a quick ratio of 4.33.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $20.31 million for the quarter, compared to the consensus estimate of $19.73 million. Neuronetics had a negative return on equity of 72.76% and a negative net margin of 42.31%. During the same quarter last year, the company earned ($0.30) earnings per share. Analysts forecast that Neuronetics will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Neuronetics news, EVP William Andrew Macan sold 22,377 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $3.16, for a total value of $70,711.32. Following the completion of the transaction, the executive vice president now directly owns 395,359 shares in the company, valued at approximately $1,249,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Keith J. Sullivan sold 23,958 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total transaction of $70,915.68. Following the completion of the transaction, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Andrew Macan sold 22,377 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $3.16, for a total value of $70,711.32. Following the sale, the executive vice president now owns 395,359 shares in the company, valued at approximately $1,249,334.44. The disclosure for this sale can be found here. Insiders sold 150,279 shares of company stock worth $489,167 in the last three months. 9.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neuronetics

Several institutional investors have recently added to or reduced their stakes in STIM. Worth Venture Partners LLC acquired a new stake in Neuronetics in the fourth quarter worth about $30,000. Fielder Capital Group LLC acquired a new stake in Neuronetics in the fourth quarter worth about $66,000. FNY Investment Advisers LLC acquired a new stake in Neuronetics in the fourth quarter worth about $87,000. G2 Investment Partners Management LLC acquired a new stake in Neuronetics in the fourth quarter worth about $213,000. Finally, David J Yvars Group boosted its holdings in Neuronetics by 108.1% in the fourth quarter. David J Yvars Group now owns 74,930 shares of the company’s stock worth $217,000 after acquiring an additional 38,930 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on STIM. William Blair reissued a “market perform” rating on shares of Neuronetics in a research report on Tuesday, March 26th. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price objective (up previously from $7.00) on shares of Neuronetics in a research report on Wednesday, March 6th.

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.