Neuronetics (NASDAQ:STIM) Stock: Insider Jorey Chernett Sells 86,757 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 86,757 shares of Neuronetics stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $1.61, for a total value of $139,678.77. Following the completion of the transaction, the insider owned 10,219,468 shares of the company’s stock, valued at approximately $16,453,343.48. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total value of $599,421.56.
• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The stock was sold at an average price of $1.15, for a total value of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20.
• On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The shares were sold at an average price of $2.06, for a total value of $214,155.54.
• On Monday, November 9th, Jorey Chernett purchased 40,000 shares of Neuronetics stock. The shares were bought at an average price of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett purchased 18,000 shares of Neuronetics stock. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $40,860.00.

Neuronetics Price Performance

Shares of STIM stock traded down $0.04 during trading hours on Friday, reaching $1.39. The stock had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The stock’s fifty day simple moving average is $2.35 and its 200 day simple moving average is $1.87. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 2.76. Neuronetics, Inc. has a 12 month low of $0.80 and a 12 month high of $3.44. The firm has a market capitalization of $108.04 million, a PE ratio of -4.21 and a beta of 1.36.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. Neuronetics had a negative net margin of 14.45% and a negative return on equity of 102.23%. The business had revenue of $41.96 million for the quarter, compared to analyst estimates of $40.42 million. On average, equities research analysts predict that Neuronetics, Inc. will post -0.30 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fielder Capital Group LLC bought a new position in Neuronetics in the second quarter valued at $30,000. State of Wyoming bought a new stake in Neuronetics during the second quarter worth about $31,000. David J Yvars Group lifted its stake in Neuronetics by 35.7% during the second quarter. David J Yvars Group now owns 27,550 shares of the company’s stock worth $36,000 after purchasing an additional 7,250 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of Neuronetics in the 1st quarter worth about $40,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Neuronetics in the 2nd quarter worth about $50,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STIM has been the subject of several recent analyst reports. B. Riley Financial boosted their target price on Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. BTIG Research reaffirmed a “buy” rating and issued a $6.00 price target on shares of Neuronetics in a report on Thursday, September 17th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neuronetics has an average rating of “Moderate Buy” and an average target price of $5.00.

About Neuronetics

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.