NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 112.1% in August

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 82,079 shares, an increase of 112.1% from the July 30th total of 38,703 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 102,758 shares, the days-to-cover ratio is presently 0.8 days.

NeuroOne Medical Technologies Price Performance

NMTC stock traded down $0.21 during trading on Friday, hitting $1.77. 464,467 shares of the stock traded hands, compared to its average volume of 766,038. NeuroOne Medical Technologies has a 1 year low of $1.42 and a 1 year high of $6.96. The firm’s 50 day moving average is $2.28 and its two-hundred day moving average is $3.57. The stock has a market cap of $16.12 million, a price-to-earnings ratio of -1.86 and a beta of 0.61.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). NeuroOne Medical Technologies had a negative return on equity of 128.12% and a negative net margin of 71.50%.The firm had revenue of $1.97 million during the quarter, compared to analysts’ expectations of $2.17 million. As a group, analysts anticipate that NeuroOne Medical Technologies will post -0.39 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark Christianson sold 10,000 shares of NeuroOne Medical Technologies stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $3.18, for a total transaction of $31,800.00. Following the completion of the transaction, the director directly owned 20,692 shares of the company’s stock, valued at $65,800.56. This trade represents a 32.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of NeuroOne Medical Technologies by 31.2% during the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock valued at $1,403,000 after purchasing an additional 375,639 shares in the last quarter. Bard Associates Inc. bought a new stake in NeuroOne Medical Technologies in the 2nd quarter worth about $929,000. Essex Investment Management Co. LLC bought a new stake in NeuroOne Medical Technologies in the 4th quarter worth about $143,000. Virtu Financial LLC purchased a new position in NeuroOne Medical Technologies in the 3rd quarter worth about $88,000. Finally, Goldman Sachs Group Inc. purchased a new position in NeuroOne Medical Technologies in the 1st quarter worth about $84,000. 16.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NMTC shares. LADENBURG THALM/SH SH raised their target price on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Finally, Maxim Group set a $5.00 price objective on NeuroOne Medical Technologies and gave the company a “buy” rating in a research report on Friday, August 14th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.33.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.