Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Rises By 22.2%

Neuronetics, Inc. (NASDAQ:STIM) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 10,258,643 shares, a growth of 22.2% from the February 12th total of 8,392,324 shares. Based on an average trading volume of 1,142,605 shares, the short-interest ratio is currently 9.0 days. Approximately 16.6% of the shares of the stock are short sold. Approximately 16.6% of the shares of the stock are short sold. Based on an average trading volume of 1,142,605 shares, the short-interest ratio is currently 9.0 days.

Neuronetics Stock Up 5.0%

Shares of NASDAQ STIM opened at $1.36 on Tuesday. The firm has a market cap of $93.15 million, a price-to-earnings ratio of -1.66 and a beta of 0.87. The company’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $2.06. The company has a quick ratio of 2.09, a current ratio of 2.24 and a debt-to-equity ratio of 2.09. Neuronetics has a 52-week low of $1.17 and a 52-week high of $5.34.

Wall Street Analyst Weigh In

Several brokerages have commented on STIM. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Insider Buying and Selling at Neuronetics

In related news, CEO Keith J. Sullivan sold 40,976 shares of Neuronetics stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total value of $63,512.80. Following the completion of the transaction, the chief executive officer owned 1,567,012 shares in the company, valued at $2,428,868.60. The trade was a 2.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 104,307 shares of company stock valued at $164,097. 9.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neuronetics

Institutional investors have recently bought and sold shares of the company. Presidio Capital Management LLC purchased a new stake in Neuronetics during the 3rd quarter worth approximately $32,000. Intrua Financial LLC purchased a new position in shares of Neuronetics in the third quarter valued at approximately $33,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Neuronetics in the third quarter valued at approximately $33,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Neuronetics in the second quarter worth approximately $34,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Neuronetics in the second quarter worth approximately $37,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics Company Profile

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.