Short Interest in NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Grows By 195.4%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 242,435 shares, a growth of 195.4% from the August 15th total of 82,079 shares. Based on an average daily trading volume, of 1,364,316 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.0% of the company’s shares are short sold.

Insiders Place Their Bets

In other NeuroOne Medical Technologies news, insider David J. Wambeke purchased 33,333 shares of the stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $2.01 per share, for a total transaction of $66,999.33. Following the completion of the acquisition, the insider directly owned 199,999 shares of the company’s stock, valued at $401,997.99. The trade was a 20.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Christianson sold 10,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total value of $31,800.00. Following the transaction, the director owned 20,692 shares of the company’s stock, valued at approximately $65,800.56. This trade represents a 32.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

A number of institutional investors and hedge funds have recently modified their holdings of NMTC. Susquehanna International Group LLP purchased a new position in NeuroOne Medical Technologies in the second quarter valued at about $41,000. Bard Associates Inc. purchased a new position in NeuroOne Medical Technologies during the second quarter valued at approximately $929,000. BlackRock Inc. bought a new position in NeuroOne Medical Technologies in the 2nd quarter worth about $76,000. Finally, Legato Capital Management LLC purchased a new stake in shares of NeuroOne Medical Technologies during the 4th quarter valued at $34,000. 16.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NMTC has been the topic of several research analyst reports. Weiss Ratings lowered NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Maxim Group set a $5.00 target price on NeuroOne Medical Technologies and gave the company a “buy” rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NeuroOne Medical Technologies presently has an average rating of “Hold” and an average target price of $7.33.

NeuroOne Medical Technologies Stock Performance

NeuroOne Medical Technologies stock traded down $0.06 during mid-day trading on Monday, reaching $1.50. The stock had a trading volume of 37,795 shares, compared to its average volume of 805,383. The firm has a market capitalization of $13.66 million, a PE ratio of -1.58 and a beta of 0.65. The stock’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $3.35. NeuroOne Medical Technologies has a fifty-two week low of $1.42 and a fifty-two week high of $6.96.

NeuroOne Medical Technologies (NASDAQ:NMTC) last announced its quarterly 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). The business had revenue of $1.97 million during the quarter, compared to the consensus estimate of $2.17 million. NeuroOne Medical Technologies had a negative net margin of 71.50% and a negative return on equity of 128.12%. On average, research analysts forecast that NeuroOne Medical Technologies will post -0.39 earnings per share for the current fiscal year.

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.