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

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 119,622 shares, a growth of 36.8% from the March 15th total of 87,465 shares. Based on an average daily trading volume, of 116,216 shares, the short-interest ratio is presently 1.0 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

NMTC has been the subject of several research analyst reports. Wall Street Zen upgraded shares of NeuroOne Medical Technologies to a “sell” rating in a report on Saturday, February 21st. JonesTrading initiated coverage on shares of NeuroOne Medical Technologies in a report on Monday, March 2nd. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Zacks Research lowered shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.90.

Insider Buying and Selling

In related news, insider David J. Wambeke acquired 166,666 shares of the stock in a transaction on Sunday, March 1st. The stock was acquired at an average cost of $4.02 per share, for a total transaction of $669,997.32. Following the completion of the acquisition, the insider directly owned 166,666 shares of the company’s stock, valued at approximately $669,997.32. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,438 shares of company stock valued at $11,702 in the last ninety days. Company insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in NeuroOne Medical Technologies by 31.2% in 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 last quarter. Essex Investment Management Co. LLC purchased a new position in NeuroOne Medical Technologies in the 4th quarter worth approximately $143,000. Virtu Financial LLC purchased a new position in NeuroOne Medical Technologies in the 3rd quarter worth approximately $88,000. Goldman Sachs Group Inc. purchased a new position in NeuroOne Medical Technologies in the 1st quarter worth approximately $84,000. Finally, XTX Topco Ltd purchased a new position in NeuroOne Medical Technologies in the 2nd quarter worth approximately $51,000. 16.07% of the stock is currently owned by hedge funds and other institutional investors.

NeuroOne Medical Technologies Stock Performance

NMTC stock opened at $4.57 on Friday. The firm has a 50 day moving average price of $4.47 and a 200-day moving average price of $4.66. NeuroOne Medical Technologies has a 52-week low of $3.21 and a 52-week high of $6.96. The firm has a market capitalization of $230.90 million, a price-to-earnings ratio of -26.88 and a beta of 0.63.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, February 17th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.06. NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%. The firm had revenue of $2.89 million during the quarter, compared to analyst estimates of $2.47 million.

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.