NeuroOne Medical Technologies (NASDAQ:NMTC) Trading Down 8.4% – What’s Next?

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC)’s stock price was down 8.4% during trading on Thursday . The company traded as low as $0.7301 and last traded at $0.7350. Approximately 299,251 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 253,055 shares. The stock had previously closed at $0.8022.

Analysts Set New Price Targets

Several equities analysts have weighed in on NMTC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NeuroOne Medical Technologies in a report on Wednesday, October 8th. Zacks Research raised NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.23.

NeuroOne Medical Technologies Trading Down 8.4%

The company has a market capitalization of $37.07 million, a P/E ratio of -9.19 and a beta of 0.71. The company’s fifty day moving average is $0.79 and its 200 day moving average is $0.81.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its earnings results on Tuesday, December 16th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $2.47 million. NeuroOne Medical Technologies had a negative net margin of 29.81% and a negative return on equity of 74.69%. During the same quarter in the previous year, the firm posted ($0.46) EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of NeuroOne Medical Technologies during the third quarter valued at about $47,000. Virtu Financial LLC purchased a new position in NeuroOne Medical Technologies during the third quarter valued at approximately $88,000. Vanguard Group Inc. increased its holdings in NeuroOne Medical Technologies by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after acquiring an additional 375,639 shares during the period. Focus Financial Network Inc. purchased a new stake in NeuroOne Medical Technologies in the 3rd quarter worth approximately $31,000. Finally, Sio Capital Management LLC bought a new position in NeuroOne Medical Technologies in the 2nd quarter valued at $2,390,000. Hedge funds and other institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Company Profile

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.