NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 36.8% in March

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 119,622 shares, an increase of 36.8% from the March 15th total of 87,465 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 116,216 shares, the days-to-cover ratio is currently 1.0 days.

NeuroOne Medical Technologies Stock Performance

NASDAQ:NMTC traded up $0.01 during mid-day trading on Wednesday, reaching $0.74. The stock had a trading volume of 538,171 shares, compared to its average volume of 173,887. The firm has a 50 day moving average price of $4.47 and a two-hundred day moving average price of $4.66. The stock has a market capitalization of $37.40 million, a P/E ratio of -4.35 and a beta of 0.63. NeuroOne Medical Technologies has a one year low of $0.50 and a one year high of $1.16.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, February 17th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. The company had revenue of $2.89 million during the quarter, compared to the consensus estimate of $2.47 million. NeuroOne Medical Technologies had a negative return on equity of 119.92% and a negative net margin of 78.34%.

Wall Street Analysts Forecast Growth

NMTC has been the subject of a number of research analyst reports. Wall Street Zen upgraded NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. JonesTrading initiated coverage on NeuroOne Medical Technologies in a research report on Monday, March 2nd. They set a “buy” rating and a $9.00 price target for the company. Finally, Zacks Research downgraded NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Three 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.90.

Insider Activity

In other NeuroOne Medical Technologies news, insider David J. Wambeke purchased 166,666 shares of the company’s stock in a transaction dated Sunday, March 1st. The stock was purchased at an average price of $4.02 per share, for a total transaction of $669,997.32. Following the transaction, the insider owned 166,666 shares in the company, valued at $669,997.32. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 2,438 shares of company stock worth $11,702. Company insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

A number of hedge funds have recently bought and sold shares of NMTC. Focus Financial Network Inc. bought a new stake in NeuroOne Medical Technologies in the 3rd quarter worth approximately $31,000. Legato Capital Management LLC bought a new stake in NeuroOne Medical Technologies in the 4th quarter worth approximately $34,000. Squarepoint Ops LLC bought a new stake in NeuroOne Medical Technologies in the 4th quarter worth approximately $36,000. Susquehanna International Group LLP bought a new stake in NeuroOne Medical Technologies in the 3rd quarter worth approximately $47,000. Finally, XTX Topco Ltd bought a new stake in NeuroOne Medical Technologies in the second quarter valued at approximately $51,000. Institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Company Profile

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.