Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Sells 706,840 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 706,840 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $1.43, for a total value of $1,010,781.20. Following the completion of the sale, the insider directly owned 9,512,628 shares of the company’s stock, valued at $13,603,058.04. This represents a 6.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total value of $599,421.56.
• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The stock was sold at an average price of $1.15, for a total value of $2,515,108.65.
• On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The shares were sold at an average price of $1.61, for a total value of $139,678.77.
• On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The shares were sold at an average price of $2.06, for a total value of $214,155.54.
• On Monday, November 9th, Jorey Chernett acquired 40,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett bought 18,000 shares of Neuronetics stock. The stock was bought at an average price of $2.27 per share, with a total value of $40,860.00.

Neuronetics Stock Performance

STIM traded down $0.04 on Friday, hitting $1.39. The company had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The company’s fifty day moving average price is $2.35 and its 200 day moving average price is $1.87. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $3.44. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.01 and a quick ratio of 1.82. The stock has a market cap of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. Neuronetics had a negative return on equity of 102.23% and a negative net margin of 14.45%. The firm had revenue of $41.96 million during the quarter, compared to analysts’ expectations of $40.42 million. Equities analysts predict that Neuronetics, Inc. will post -0.30 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STIM. BTIG Research restated a “buy” rating and issued a $6.00 price objective on shares of Neuronetics in a research note on Thursday, September 17th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Monday, September 14th. Finally, B. Riley Financial lifted their target price on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Recent Neuronetics Headlines

Here are a few of the latest headlines about STIM:

• Positive Sentiment: Third-quarter revenue was $41.96 million, above the $40.43 million analyst estimate, while its $0.02-per-share loss was narrower than the expected $0.09 loss. The results may support sentiment about improving performance. Article: Neuronetics stock: Q3 revenue rises as loss narrows
• Negative Sentiment: Major shareholder Jorey Chernett disclosed several sales from November 6–13, totaling about 3.34 million shares, partly offset by a 40,000-share purchase. After the latest sale, Chernett held about 7.33 million shares. The scale of the selling may raise concerns about near-term supply and investor confidence. SEC filing on Chernett’s transactions

Hedge Funds Weigh In On Neuronetics

Institutional investors have recently made changes to their positions in the business. Jump Financial LLC acquired a new position in shares of Neuronetics during the 3rd quarter worth about $69,000. Marshall Wace LLP boosted its stake in Neuronetics by 219.5% during the 3rd quarter. Marshall Wace LLP now owns 1,551,840 shares of the company’s stock valued at $3,631,000 after purchasing an additional 1,066,148 shares during the period. Empowered Funds LLC bought a new stake in Neuronetics during the 3rd quarter valued at approximately $211,000. HighTower Advisors LLC grew its holdings in Neuronetics by 95.4% in the 3rd quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock valued at $2,578,000 after buying an additional 537,761 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Neuronetics in the 3rd quarter valued at approximately $176,000. 53.59% of the stock is currently owned by institutional investors.

Neuronetics Company Profile

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.