Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Increases By 24.4%

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,990,000 shares, a growth of 24.4% from the February 13th total of 1,600,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 7.3% of the shares of the company are sold short.

Neuronetics Price Performance

Shares of Neuronetics stock traded down $0.08 during trading on Friday, reaching $4.86. 408,575 shares of the company's stock were exchanged, compared to its average volume of 604,809. The company has a debt-to-equity ratio of 4.90, a quick ratio of 2.87 and a current ratio of 3.16. Neuronetics has a 1-year low of $0.52 and a 1-year high of $5.92. The company has a market cap of $147.49 million, a P/E ratio of -3.95 and a beta of 2.07. The firm's 50-day moving average price is $3.78 and its 200 day moving average price is $1.98.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CFO Stephen Furlong sold 10,845 shares of Neuronetics stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total value of $41,536.35. Following the completion of the sale, the chief financial officer now directly owns 471,727 shares in the company, valued at approximately $1,806,714.41. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith J. Sullivan sold 40,992 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $3.28, for a total value of $134,453.76. Following the sale, the chief executive officer now directly owns 1,283,362 shares in the company, valued at $4,209,427.36. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,369 shares of company stock worth $358,929 in the last quarter. 9.80% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Neuronetics by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 314,076 shares of the company's stock worth $506,000 after purchasing an additional 8,466 shares in the last quarter. David J Yvars Group boosted its position in shares of Neuronetics by 47.1% during the 4th quarter. David J Yvars Group now owns 46,325 shares of the company's stock worth $75,000 after purchasing an additional 14,825 shares in the last quarter. Tradewinds LLC. acquired a new stake in shares of Neuronetics in the 4th quarter valued at about $32,000. XTX Topco Ltd acquired a new position in Neuronetics during the 4th quarter worth approximately $49,000. Finally, GSA Capital Partners LLP boosted its holdings in Neuronetics by 64.5% in the third quarter. GSA Capital Partners LLP now owns 78,642 shares of the company's stock worth $60,000 after acquiring an additional 30,837 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

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.