Neuronetics, Inc. (NASDAQ:STIM) Major Shareholder Cannell Capital Llc Acquires 106,455 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc purchased 106,455 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average price of $2.13 per share, with a total value of $226,749.15. Following the purchase, the insider now directly owns 3,329,150 shares in the company, valued at approximately $7,091,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cannell Capital Llc also recently made the following trade(s):

• On Monday, May 9th, Cannell Capital Llc purchased 7,094 shares of Neuronetics stock. The shares were bought at an average price of $2.31 per share, with a total value of $16,387.14.
• On Friday, May 6th, Cannell Capital Llc purchased 10,000 shares of Neuronetics stock. The shares were bought at an average price of $2.42 per share, with a total value of $24,200.00.
• On Wednesday, May 4th, Cannell Capital Llc purchased 20,000 shares of Neuronetics stock. The shares were bought at an average price of $2.47 per share, with a total value of $49,400.00.
• On Monday, May 2nd, Cannell Capital Llc bought 5,429 shares of Neuronetics stock. The stock was acquired at an average price of $2.48 per share, for a total transaction of $13,463.92.
• On Monday, April 25th, Cannell Capital Llc bought 1,704 shares of Neuronetics stock. The stock was acquired at an average price of $2.79 per share, for a total transaction of $4,754.16.
• On Friday, April 22nd, Cannell Capital Llc bought 1,555 shares of Neuronetics stock. The stock was acquired at an average price of $2.85 per share, for a total transaction of $4,431.75.
• On Tuesday, April 19th, Cannell Capital Llc bought 206 shares of Neuronetics stock. The stock was acquired at an average price of $2.89 per share, for a total transaction of $595.34.
• On Wednesday, April 13th, Cannell Capital Llc bought 33,400 shares of Neuronetics stock. The stock was acquired at an average price of $2.88 per share, for a total transaction of $96,192.00.
• On Monday, April 11th, Cannell Capital Llc bought 25,000 shares of Neuronetics stock. The stock was acquired at an average price of $2.95 per share, for a total transaction of $73,750.00.
• On Wednesday, April 6th, Cannell Capital Llc bought 2,829 shares of Neuronetics stock. The stock was acquired at an average price of $3.16 per share, for a total transaction of $8,939.64.

NASDAQ:STIM opened at $2.57 on Friday. The company has a quick ratio of 6.93, a current ratio of 7.34 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $2.90 and its 200 day moving average is $3.62. Neuronetics, Inc. has a 12 month low of $1.98 and a 12 month high of $17.92.

Neuronetics (NASDAQ:STIM – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Neuronetics had a negative return on equity of 33.24% and a negative net margin of 56.39%. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. As a group, equities research analysts anticipate that Neuronetics, Inc. will post -1.69 earnings per share for the current year.

Separately, Zacks Investment Research cut shares of Neuronetics from a “buy” rating to a “hold” rating in a report on Saturday, March 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Neuronetics currently has an average rating of “Buy” and an average price target of $10.06.

A number of hedge funds have recently modified their holdings of STIM. Bank of America Corp DE raised its holdings in Neuronetics by 710.4% during the 2nd quarter. Bank of America Corp DE now owns 8,112 shares of the company’s stock valued at $130,000 after acquiring an additional 7,111 shares during the period. Moors & Cabot Inc. bought a new stake in Neuronetics during the 3rd quarter valued at $55,000. BlackRock Inc. raised its holdings in Neuronetics by 3.0% during the 3rd quarter. BlackRock Inc. now owns 1,571,700 shares of the company’s stock valued at $10,310,000 after acquiring an additional 45,723 shares during the period. Barclays PLC raised its holdings in Neuronetics by 230.1% during the 3rd quarter. Barclays PLC now owns 10,429 shares of the company’s stock valued at $69,000 after acquiring an additional 7,270 shares during the period. Finally, Citigroup Inc. raised its holdings in Neuronetics by 223.8% during the 3rd quarter. Citigroup Inc. now owns 4,177 shares of the company’s stock valued at $27,000 after acquiring an additional 2,887 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

About Neuronetics (Get Rating)

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.

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