NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Stock Short Interest Declines 68.7%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 75,782 shares, a decline of 68.7% from the August 31st total of 242,435 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 114,269 shares, the days-to-cover ratio is currently 0.7 days.

NeuroOne Medical Technologies Trading Down 2.3%

Shares of NMTC traded down $0.03 during mid-day trading on Monday, reaching $1.30. 30,189 shares of the stock traded hands, compared to its average volume of 133,505. The company has a market cap of $11.84 million, a price-to-earnings ratio of -1.37 and a beta of 0.65. NeuroOne Medical Technologies has a 1 year low of $1.28 and a 1 year high of $6.96. The firm has a fifty day moving average price of $1.71 and a 200 day moving average price of $3.15.

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

Insiders Place Their Bets

In other NeuroOne Medical Technologies news, Director Mark Christianson sold 10,000 shares of the company’s 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 sale, the director directly owned 20,692 shares of the company’s stock, valued at $65,800.56. This represents a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David J. Wambeke purchased 33,333 shares of the stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $2.01 per share, for a total transaction of $66,999.33. Following the transaction, the insider owned 199,999 shares of the company’s stock, valued at approximately $401,997.99. This trade represents a 20.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 11.80% of the stock is owned by corporate insiders.

Institutional Trading of NeuroOne Medical Technologies

Several institutional investors and hedge funds have recently modified their holdings of NMTC. Susquehanna International Group LLP bought a new stake in shares of NeuroOne Medical Technologies during the 2nd quarter valued at about $41,000. BlackRock Inc. bought a new position in shares of NeuroOne Medical Technologies in the second quarter worth approximately $76,000. Finally, Bard Associates Inc. bought a new position in shares of NeuroOne Medical Technologies in the second quarter worth approximately $929,000. Hedge funds and other institutional investors own 16.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NMTC. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Maxim Group set a $5.00 price target on shares of NeuroOne Medical Technologies and gave the stock a “buy” rating in a report on Friday, August 14th. Three investment 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.com, NeuroOne Medical Technologies currently has an average rating of “Hold” and an average price target of $7.33.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical technology company focused on developing, manufacturing and commercializing thin-film electrode technology for neurological applications. Its products are designed to support the recording, monitoring and stimulation of electrical activity in the brain and nervous system, with potential uses in the diagnosis and treatment of neurological disorders.

The company’s product portfolio includes the Evo family of electrode products, including devices used for stereoelectroencephalography and cortical monitoring.