Neuronetics Inc (NASDAQ:STIM) Sees Large Decrease in Short Interest

Neuronetics Inc (NASDAQ:STIM) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 269,900 shares, a decrease of 18.2% from the June 30th total of 329,900 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 968,100 shares, the short-interest ratio is currently 0.3 days.

Several brokerages have recently weighed in on STIM. William Blair lowered Neuronetics from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 5th. Canaccord Genuity reiterated a “buy” rating and set a $4.00 price target on shares of Neuronetics in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $6.00 price objective on shares of Neuronetics in a research note on Tuesday, May 5th. Finally, Zacks Investment Research downgraded shares of Neuronetics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $4.75.

Institutional investors have recently modified their holdings of the stock. Spouting Rock Asset Management LLC acquired a new stake in shares of Neuronetics during the first quarter worth about $38,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Neuronetics by 92.7% in the first quarter. Parametric Portfolio Associates LLC now owns 20,129 shares of the company’s stock valued at $38,000 after buying an additional 9,681 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Neuronetics during the first quarter worth $43,000. Wells Fargo & Company MN lifted its position in Neuronetics by 63.3% in the 1st quarter. Wells Fargo & Company MN now owns 37,199 shares of the company’s stock valued at $70,000 after acquiring an additional 14,413 shares in the last quarter. Finally, UBS Group AG boosted its stake in Neuronetics by 64.8% in the 4th quarter. UBS Group AG now owns 16,396 shares of the company’s stock worth $74,000 after purchasing an additional 6,447 shares during the period. 65.30% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics stock opened at $2.67 on Friday. The business has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $2.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 6.17 and a quick ratio of 5.94. The company has a market capitalization of $50.01 million, a PE ratio of -1.44 and a beta of 1.48. Neuronetics has a one year low of $1.25 and a one year high of $12.24.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.13). The company had revenue of $11.48 million for the quarter. Neuronetics had a negative return on equity of 68.77% and a negative net margin of 55.58%. Equities analysts anticipate that Neuronetics will post -1.73 earnings per share for the current fiscal year.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders in the United States, Japan, and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.

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