Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Expands By 25.0%

Neuronetics, Inc. (NASDAQ:STIM) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 1,600,000 shares, a growth 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 currently 1.5 days.

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.

Neuronetics Stock Up 7.1 %

STIM stock opened at $5.42 on Thursday. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. The firm has a market cap of $164.49 million, a PE ratio of -4.41 and a beta of 2.07. Neuronetics has a 1 year low of $0.52 and a 1 year high of $5.92. The company has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $1.67.

Insider Activity

In other news, EVP William Andrew Macan sold 12,175 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total value of $46,630.25. Following the transaction, the executive vice president now owns 388,647 shares in the company, valued at $1,488,518.01. This represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Furlong sold 17,307 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $4.11, for a total transaction of $71,131.77. Following the sale, the chief financial officer now owns 454,420 shares of the company’s stock, valued at approximately $1,867,666.20. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,125 shares of company stock worth $348,876 over the last quarter. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

Several large investors have recently made changes to their positions in STIM. Tradewinds LLC. bought a new position in shares of Neuronetics in the 4th quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in Neuronetics during the fourth quarter valued at approximately $49,000. Landscape Capital Management L.L.C. bought a new position in shares of Neuronetics in the third quarter valued at approximately $53,000. GSA Capital Partners LLP lifted its stake in shares of 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 buying an additional 30,837 shares during the last quarter. Finally, 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. 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.