Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Rises By 31.9%

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

Insider Activity

In other Neuronetics news, Director Robert Cascella bought 100,000 shares of Neuronetics stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost 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 $339,823.50. The trade was a 28.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

Institutional investors have recently bought and sold shares of the business. Legato Capital Management LLC bought a new stake in shares of Neuronetics during the 2nd quarter valued at $44,000. Landscape Capital Management L.L.C. acquired a new position in Neuronetics in the third quarter valued at about $53,000. GSA Capital Partners LLP lifted its position in Neuronetics by 64.5% during the third quarter. GSA Capital Partners LLP now owns 78,642 shares of the company’s stock worth $60,000 after purchasing an additional 30,837 shares during the period. Gabelli Funds LLC grew its stake in Neuronetics by 88.2% during the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after buying an additional 22,500 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in Neuronetics by 97.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock valued at $173,000 after buying an additional 47,228 shares during the period. Institutional investors own 53.59% of the company’s stock.

Neuronetics Stock Performance

STIM stock traded up $0.04 during trading hours on Friday, hitting $1.00. 141,951 shares of the stock were exchanged, compared to its average volume of 296,516. The company has a 50-day simple moving average of $0.91 and a two-hundred day simple moving average of $1.37. The firm has a market capitalization of $30.35 million, a P/E ratio of -0.81 and a beta of 2.21. Neuronetics has a 12 month low of $0.52 and a 12 month high of $5.07. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STIM shares. Canaccord Genuity Group decreased their price objective on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. JMP Securities decreased their price target on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, William Blair restated a “market perform” rating on shares of Neuronetics in a research report on Monday, August 12th.

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.