Investors Purchase Large Volume of Neuronetics Call Options (NASDAQ:STIM)

Neuronetics, Inc. (NASDAQ:STIM) was the target of some unusual options trading activity on Tuesday. Traders bought 4,909 call options on the stock. This is an increase of approximately 3,432% compared to the average daily volume of 139 call options.

Several analysts recently weighed in on STIM shares. JMP Securities raised their target price on shares of Neuronetics from $15.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, January 27th. BTIG Research lifted their price objective on shares of Neuronetics from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, January 21st. William Blair upgraded Neuronetics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 22nd. Piper Sandler decreased their price target on Neuronetics from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, March 2nd. Finally, Zacks Investment Research upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Tuesday, January 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $19.25.

NASDAQ STIM traded up $3.98 during trading hours on Tuesday, hitting $14.13. The company had a trading volume of 5,403,022 shares, compared to its average volume of 529,271. The business has a 50 day moving average of $12.23 and a 200-day moving average of $11.90. The company has a market cap of $363.62 million, a PE ratio of -8.41 and a beta of 3.05. Neuronetics has a 1-year low of $1.70 and a 1-year high of $22.43.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Monday, March 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05. The firm had revenue of $15.58 million during the quarter, compared to analysts’ expectations of $15.21 million. Neuronetics had a negative return on equity of 88.76% and a negative net margin of 61.44%. On average, sell-side analysts predict that Neuronetics will post -1.55 earnings per share for the current year.

In related news, CFO Stephen Furlong sold 6,521 shares of the business’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $14.64, for a total transaction of $95,467.44. Following the completion of the transaction, the chief financial officer now directly owns 289,971 shares of the company’s stock, valued at approximately $4,245,175.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Harper sold 5,524 shares of the company’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $14.65, for a total value of $80,926.60. Following the sale, the vice president now owns 162,554 shares in the company, valued at approximately $2,381,416.10. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Several large investors have recently made changes to their positions in STIM. Royce & Associates LP raised its holdings in Neuronetics by 419.2% during the fourth quarter. Royce & Associates LP now owns 934,558 shares of the company’s stock worth $10,383,000 after purchasing an additional 754,558 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Neuronetics by 12,625.7% during the fourth quarter. Citigroup Inc. now owns 12,853 shares of the company’s stock valued at $143,000 after acquiring an additional 12,752 shares during the last quarter. LPL Financial LLC raised its stake in Neuronetics by 87.7% in the 4th quarter. LPL Financial LLC now owns 21,400 shares of the company’s stock valued at $238,000 after purchasing an additional 10,000 shares during the last quarter. Calamos Advisors LLC purchased a new position in Neuronetics in the 4th quarter valued at about $1,895,000. Finally, Blair William & Co. IL grew its holdings in shares of Neuronetics by 1.2% during the fourth quarter. Blair William & Co. IL now owns 145,335 shares of the company’s stock worth $1,615,000 after buying an additional 1,667 shares in the last quarter. 63.80% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders in the United States 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.

Further Reading: Stochastic Momentum Index (SMI)

Receive News & Ratings for Neuronetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neuronetics and related companies with MarketBeat.com's FREE daily email newsletter.