NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Shares Shorted: Short Interest Down 68.7% in September

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 75,782 shares, a decline of 68.7% from the August 31st total of 242,435 shares. Based on an average daily trading volume, of 114,269 shares, the short-interest ratio is presently 0.7 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on NMTC shares. Maxim Group set a $5.00 price target on NeuroOne Medical Technologies and gave the company a “buy” rating in a research note on Friday, August 14th. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.33.

Insider Activity

In other news, Director Mark Christianson sold 10,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $3.18, for a total transaction of $31,800.00. Following the completion of the transaction, the director directly owned 20,692 shares in the company, valued at $65,800.56. This represents a 32.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David J. Wambeke acquired 33,333 shares of NeuroOne Medical Technologies stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price of $2.01 per share, with a total value of $66,999.33. Following the completion of the purchase, the insider owned 199,999 shares in the company, valued at approximately $401,997.99. The trade was a 20.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in shares of NeuroOne Medical Technologies during the 2nd quarter worth approximately $41,000. BlackRock Inc. bought a new stake in NeuroOne Medical Technologies in the 2nd quarter valued at $76,000. Finally, Bard Associates Inc. acquired a new stake in NeuroOne Medical Technologies during the 2nd quarter valued at $929,000. Institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Price Performance

Shares of NeuroOne Medical Technologies stock remained flat at $1.33 during trading on Friday. 120,791 shares of the stock traded hands, compared to its average volume of 154,332. The firm has a market cap of $12.11 million, a PE ratio of -1.40 and a beta of 0.65. The stock has a fifty day moving average of $1.71 and a two-hundred day moving average of $3.16. NeuroOne Medical Technologies has a one year low of $1.28 and a one year high of $6.96.

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

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical technology company focused on developing, manufacturing and commercializing thin-film electrode technology for neurological applications. Its products are designed to support the recording, monitoring and stimulation of electrical activity in the brain and nervous system, with potential uses in the diagnosis and treatment of neurological disorders.

The company’s product portfolio includes the Evo family of electrode products, including devices used for stereoelectroencephalography and cortical monitoring.