Neuronetics (NASDAQ:STIM) Rating Increased to Hold at Wall Street Zen

Neuronetics (NASDAQ:STIM) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, June 18th. Canaccord Genuity Group reduced their price objective on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.00.

Neuronetics Trading Up 6.0%

Neuronetics stock traded up $0.10 during mid-day trading on Friday, hitting $1.76. The stock had a trading volume of 2,070,367 shares, compared to its average volume of 1,226,128. The stock has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.50. The stock has a market capitalization of $122.48 million, a PE ratio of -3.26 and a beta of 1.06. Neuronetics has a 12 month low of $0.80 and a 12 month high of $4.85. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $34.45 million during the quarter, compared to analyst estimates of $34.17 million. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%. As a group, sell-side analysts forecast that Neuronetics will post -0.46 EPS for the current year.

Insider Activity at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $1.17 per share, with a total value of $117,000.00. Following the purchase, the insider owned 10,553,988 shares of the company’s stock, valued at $12,348,165.96. This represents a 0.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 675,000 shares of company stock valued at $911,500. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. David J Yvars Group increased its stake in Neuronetics by 35.7% during the 2nd quarter. David J Yvars Group now owns 27,550 shares of the company’s stock worth $36,000 after purchasing an additional 7,250 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Neuronetics in the first quarter valued at approximately $145,000. Royal Bank of Canada increased its position in shares of Neuronetics by 102.9% during the first quarter. Royal Bank of Canada now owns 95,848 shares of the company’s stock worth $140,000 after acquiring an additional 48,615 shares in the last quarter. FourWorld Capital Management LLC increased its position in shares of Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after acquiring an additional 558,072 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Neuronetics during the first quarter worth $110,000. 53.59% of the stock is owned by institutional investors and hedge funds.

About Neuronetics

Neuronetics, Inc is a commercial?stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.