NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Significant Decline in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 87,465 shares, a decline of 18.6% from the February 26th total of 107,470 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 277,036 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Wall Street Zen raised NeuroOne Medical Technologies to a “sell” rating in a report on Saturday, February 21st. Finally, JonesTrading assumed coverage on NeuroOne Medical Technologies in a research report on Monday, March 2nd. They issued a “buy” rating and a $1.50 target price for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.98.

NeuroOne Medical Technologies Price Performance

NASDAQ:NMTC traded up $0.01 on Wednesday, reaching $0.79. 85,587 shares of the company’s stock were exchanged, compared to its average volume of 253,455. The firm has a market cap of $39.67 million, a price-to-earnings ratio of -4.62 and a beta of 0.74. NeuroOne Medical Technologies has a 52 week low of $0.40 and a 52 week high of $1.16. The stock has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $0.79.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $2.89 million for the quarter, compared to analyst estimates of $2.47 million. NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%.

Insiders Place Their Bets

In related news, insider David J. Wambeke bought 1,000,000 shares of the company’s stock in a transaction on Sunday, March 1st. The shares were purchased at an average cost of $0.67 per share, for a total transaction of $670,000.00. Following the completion of the purchase, the insider directly owned 1,000,000 shares in the company, valued at $670,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 14,637 shares of company stock valued at $11,710 in the last 90 days. 11.80% of the stock is owned by insiders.

Institutional Investors Weigh In On NeuroOne Medical Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sio Capital Management LLC purchased a new stake in shares of NeuroOne Medical Technologies during the second quarter worth $2,390,000. Vanguard Group Inc. raised its stake in shares of NeuroOne Medical Technologies by 31.2% during the 3rd 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 during the period. Renaissance Technologies LLC raised its stake in shares of NeuroOne Medical Technologies by 10.2% during the 4th quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock valued at $578,000 after purchasing an additional 70,428 shares during the period. Essex Investment Management Co. LLC purchased a new stake in NeuroOne Medical Technologies during the 4th quarter worth about $143,000. Finally, Virtu Financial LLC purchased a new stake in NeuroOne Medical Technologies during the 3rd quarter worth about $88,000. 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.