Neuronetics, Inc. (NASDAQ:STIM) Short Interest Up 39.7% in March

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,780,000 shares, an increase of 39.7% from the February 28th total of 1,990,000 shares. Approximately 10.2% of the company's stock are sold short. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is presently 1.9 days.

Insider Transactions at Neuronetics

In other news, CEO Keith J. Sullivan sold 40,992 shares of the business'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 in the company, valued at $4,209,427.36. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen Furlong sold 14,836 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $3.28, for a total value of $48,662.08. Following the sale, the chief financial officer now owns 482,572 shares of the company's stock, valued at approximately $1,582,836.16. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,369 shares of company stock valued at $358,929 over the last quarter. Company insiders own 9.80% of the company's stock.

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Institutional Trading of Neuronetics

Several large investors have recently made changes to their positions in STIM. Tradewinds LLC. acquired a new stake in Neuronetics in the 4th quarter worth approximately $32,000. XTX Topco Ltd acquired a new stake in shares of Neuronetics in the fourth quarter worth $49,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Neuronetics in the fourth quarter worth $57,000. David J Yvars Group grew its stake in Neuronetics by 47.1% in the 4th quarter. David J Yvars Group now owns 46,325 shares of the company's stock valued at $75,000 after buying an additional 14,825 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Neuronetics by 10,954.1% in the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after acquiring an additional 54,442 shares during the period. Institutional investors own 53.59% of the company's stock.

Neuronetics Stock Down 8.6 %

NASDAQ:STIM traded down $0.34 during trading hours on Thursday, reaching $3.60. The company's stock had a trading volume of 1,333,427 shares, compared to its average volume of 645,234. The company has a debt-to-equity ratio of 4.90, a current ratio of 3.16 and a quick ratio of 2.87. The company has a market cap of $109.25 million, a price-to-earnings ratio of -2.93 and a beta of 1.97. Neuronetics has a one year low of $0.52 and a one year high of $5.92. The business's 50-day moving average is $4.11 and its 200-day moving average is $2.20.

Analyst Upgrades and Downgrades

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

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.