Short Interest in NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Expands By 112.1%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 82,079 shares, a growth of 112.1% from the July 30th total of 38,703 shares. Based on an average trading volume of 102,758 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.0% of the shares of the company are short sold.

NeuroOne Medical Technologies Price Performance

NASDAQ:NMTC opened at $1.77 on Friday. NeuroOne Medical Technologies has a one year low of $1.42 and a one year high of $6.96. The business has a fifty day moving average price of $2.28 and a 200-day moving average price of $3.57. The firm has a market capitalization of $16.12 million, a price-to-earnings ratio of -1.86 and a beta of 0.61.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). NeuroOne Medical Technologies had a negative net margin of 71.50% and a negative return on equity of 128.12%. The company had revenue of $1.97 million for the quarter, compared to analysts’ expectations of $2.17 million. On average, equities research analysts expect that NeuroOne Medical Technologies will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NMTC. LADENBURG THALM/SH SH increased their price target on NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Finally, Maxim Group set a $5.00 price target on NeuroOne Medical Technologies and gave the company a “buy” rating in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.33.

Insider Activity at NeuroOne Medical Technologies

In other news, Director Mark Christianson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $3.18, for a total transaction of $31,800.00. Following the completion of the transaction, the director directly owned 20,692 shares of the company’s stock, valued at $65,800.56. The trade was 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 at the SEC website. 11.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NeuroOne Medical Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in shares of NeuroOne Medical Technologies in the first quarter worth approximately $84,000. XTX Topco Ltd purchased a new stake in shares of NeuroOne Medical Technologies in the second quarter worth $51,000. Vanguard Group Inc. raised its position 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. Virtu Financial LLC bought a new stake in shares of NeuroOne Medical Technologies during the 3rd quarter valued at $88,000. Finally, Susquehanna International Group LLP purchased a new position in shares of NeuroOne Medical Technologies during the 3rd quarter valued at $47,000. 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.