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

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,600,000 shares, an increase of 25.0% from the January 31st total of 1,280,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 1.5 days.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on shares of Neuronetics from $5.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday.

Insider Activity at Neuronetics

In related news, CFO Stephen Furlong sold 14,836 shares of the 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 completion of the transaction, the chief financial officer now owns 482,572 shares of the company's stock, valued at $1,582,836.16. This represents a 2.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith J. Sullivan sold 40,992 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $3.28, for a total transaction of $134,453.76. Following the transaction, the chief executive officer now directly owns 1,283,362 shares of the company's stock, valued at $4,209,427.36. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,369 shares of company stock valued at $358,929 in the last quarter. Insiders own 9.80% of the company's stock.

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Hedge Funds Weigh In On Neuronetics

A number of hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. raised its stake in Neuronetics by 29.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company's stock worth $2,386,000 after buying an additional 337,539 shares during the last quarter. XTX Topco Ltd bought a new position in Neuronetics during the fourth quarter worth $49,000. Geode Capital Management LLC raised its stake in Neuronetics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 314,076 shares of the company's stock worth $506,000 after buying an additional 8,466 shares during the last quarter. Tradewinds LLC. bought a new position in Neuronetics during the fourth quarter worth $32,000. Finally, JPMorgan Chase & Co. raised its stake in Neuronetics by 10,954.1% during the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after buying an additional 54,442 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

Neuronetics Trading Up 2.2 %

Shares of STIM stock traded up $0.11 during trading hours on Friday, hitting $5.07. 1,463,479 shares of the company's stock traded hands, compared to its average volume of 574,918. The stock's 50 day simple moving average is $3.21 and its 200 day simple moving average is $1.75. The stock has a market cap of $153.86 million, a PE ratio of -4.12 and a beta of 2.07. Neuronetics has a 12 month low of $0.52 and a 12 month 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.

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.