NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Stock Short Interest Rises 135.8%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 178,730 shares, an increase of 135.8% from the September 15th total of 75,782 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 150,116 shares, the short-interest ratio is currently 1.2 days.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Maxim Group set a $5.00 price target on NeuroOne Medical Technologies and gave the company a “buy” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.33.

Insider Activity

In other news, insider David Wambeke acquired 33,333 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $2.01 per share, for a total transaction of $66,999.33. Following the completion of the transaction, the insider owned 199,999 shares of the company’s stock, valued at $401,997.99. The trade was a 20.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

A number of hedge funds have recently modified their holdings of the business. Bard Associates Inc. purchased a new stake in NeuroOne Medical Technologies in the second quarter worth about $929,000. BlackRock Inc. bought a new stake in NeuroOne Medical Technologies in the second quarter worth $76,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of NeuroOne Medical Technologies in the second quarter worth $41,000. Institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Stock Down 3.6%

NASDAQ:NMTC opened at $1.06 on Thursday. The stock has a market cap of $9.65 million, a P/E ratio of -1.12 and a beta of 0.77. The firm’s fifty day simple moving average is $1.53 and its 200 day simple moving average is $2.83. NeuroOne Medical Technologies has a twelve month low of $0.96 and a twelve month high of $6.12.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). NeuroOne Medical Technologies had a negative return on equity of 128.12% and a negative net margin of 71.50%. The company had revenue of $1.97 million during the quarter, compared to the consensus estimate of $2.17 million. On average, analysts expect that NeuroOne Medical Technologies will post -0.39 EPS for the current fiscal year.

NeuroOne Medical Technologies Company Profile

NeuroOne Medical Technologies Corporation is a medical device company focused on developing and commercializing technologies for recording, monitoring, and treating neurological disorders. Its products are designed for use by neurosurgeons and neurologists in procedures involving the brain and nervous system, including the diagnosis and treatment of epilepsy and other neurological conditions.

The company’s product portfolio includes the Evo cortical and stereoelectroencephalography (sEEG) electrode systems, which are used to record electrical activity in the brain.