Neuronetics, Inc. (NASDAQ:STIM) Short Interest Update

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,340,000 shares, a growth of 20.1% from the March 15th total of 2,780,000 shares. Currently, 12.2% of the company's shares are sold short. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is presently 2.0 days.

Neuronetics Trading Up 5.7 %

NASDAQ:STIM traded up $0.24 during midday trading on Friday, hitting $4.48. The stock had a trading volume of 853,063 shares, compared to its average volume of 688,864. The stock has a 50-day moving average of $4.26 and a 200 day moving average of $2.55. The company has a market capitalization of $294.85 million, a price-to-earnings ratio of -3.64 and a beta of 1.97. Neuronetics has a one year low of $0.52 and a one year high of $5.92. The company has a quick ratio of 2.87, a current ratio of 3.16 and a debt-to-equity ratio of 4.90.

Insiders Place Their Bets

In other Neuronetics news, EVP William Andrew Macan sold 12,175 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total value of $46,630.25. Following the completion of the sale, the executive vice president now owns 388,647 shares of the company's stock, valued at $1,488,518.01. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Furlong sold 14,836 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $3.28, for a total value of $48,662.08. Following the transaction, the chief financial officer now directly owns 482,572 shares in the company, valued at approximately $1,582,836.16. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,369 shares of company stock valued at $358,929 over the last three months. 9.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neuronetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tradewinds LLC. purchased a new stake in Neuronetics in the fourth quarter worth about $32,000. KPP Advisory Services LLC bought a new position in shares of Neuronetics during the first quarter valued at approximately $37,000. Presidio Capital Management LLC bought a new position in shares of Neuronetics during the first quarter valued at approximately $44,000. XTX Topco Ltd purchased a new position in Neuronetics during the fourth quarter valued at approximately $49,000. Finally, Wealthedge Investment Advisors LLC bought a new position in Neuronetics in the fourth quarter worth approximately $57,000. Institutional investors own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price target on shares of Neuronetics from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th.

About Neuronetics

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.