Neuronetics, Inc. (NASDAQ:STIM) Short Interest Update

Neuronetics, Inc. (NASDAQ:STIM) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 8,588,113 shares, an increase of 20.0% from the January 15th total of 7,159,363 shares. Based on an average daily volume of 1,084,185 shares, the short-interest ratio is presently 7.9 days. Approximately 13.9% of the company’s shares are sold short. Approximately 13.9% of the company’s shares are sold short. Based on an average daily volume of 1,084,185 shares, the short-interest ratio is presently 7.9 days.

Neuronetics Stock Up 0.7%

Shares of STIM traded up $0.01 during mid-day trading on Tuesday, hitting $1.43. 1,903,382 shares of the company’s stock were exchanged, compared to its average volume of 2,499,166. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.24 and a quick ratio of 2.09. Neuronetics has a 52 week low of $1.25 and a 52 week high of $5.92. The company has a market cap of $97.94 million, a PE ratio of -1.74 and a beta of 0.78. The company has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $2.40.

Insider Buying and Selling

In related news, CEO Keith J. Sullivan sold 40,976 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1.55, for a total value of $63,512.80. Following the sale, the chief executive officer directly owned 1,567,012 shares in the company, valued at $2,428,868.60. This trade represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Madryn Asset Management LP bought a new position in Neuronetics in the fourth quarter valued at approximately $25,497,000. UBS Group AG boosted its holdings in shares of Neuronetics by 580.7% in the 3rd quarter. UBS Group AG now owns 2,164,831 shares of the company’s stock valued at $5,910,000 after buying an additional 1,846,801 shares during the last quarter. Lane Generational LLC bought a new position in shares of Neuronetics in the fourth quarter valued at $2,353,000. Goldman Sachs Group Inc. grew its position in shares of Neuronetics by 2,993.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock valued at $2,320,000 after acquiring an additional 610,014 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Neuronetics by 172.3% during the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock worth $3,068,000 after purchasing an additional 556,268 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on STIM shares. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.00.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.