Neuronetics, Inc. (NASDAQ:STIM) Sees Significant Drop in Short Interest

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 312,900 shares, a drop of 35.8% from the December 15th total of 487,400 shares. Based on an average daily trading volume, of 413,300 shares, the short-interest ratio is currently 0.8 days. Currently, 2.0% of the company's stock are short sold.

Neuronetics Stock Performance

STIM traded down $0.18 on Tuesday, reaching $2.16. The company had a trading volume of 1,313,846 shares, compared to its average volume of 1,679,663. The company has a quick ratio of 2.87, a current ratio of 3.16 and a debt-to-equity ratio of 4.90. Neuronetics has a 1 year low of $0.52 and a 1 year high of $5.07. The stock has a market capitalization of $65.55 million, a PE ratio of -1.76 and a beta of 2.11. The stock has a 50-day moving average price of $1.21 and a 200-day moving average price of $1.21.

Institutional Trading of Neuronetics

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Neuronetics by 23.7% during the second quarter. Acadian Asset Management LLC now owns 326,975 shares of the company's stock worth $587,000 after buying an additional 62,628 shares during the period. Renaissance Technologies LLC grew its position in shares of Neuronetics by 124.5% during the second quarter. Renaissance Technologies LLC now owns 322,200 shares of the company's stock worth $580,000 after acquiring an additional 178,700 shares during the last quarter. First Washington CORP increased its holdings in shares of Neuronetics by 88.8% in the 2nd quarter. First Washington CORP now owns 1,274,540 shares of the company's stock valued at $2,294,000 after acquiring an additional 599,455 shares during the period. First Eagle Investment Management LLC raised its position in Neuronetics by 33.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company's stock valued at $1,870,000 after purchasing an additional 260,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Neuronetics by 88.2% during the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company's stock worth $86,000 after purchasing an additional 22,500 shares during the period. 53.59% of the stock is 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 neurohealth 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.