NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Shares Shorted: Short Interest Up 135.8% in September

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 178,730 shares, a growth of 135.8% from the September 15th total of 75,782 shares. Based on an average trading volume of 150,116 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.2% of the company’s stock are sold short.

Insider Transactions at NeuroOne Medical Technologies

In other news, insider David Wambeke purchased 33,333 shares of the stock in a transaction on Thursday, August 27th. The stock was bought at an average price of $2.01 per share, for a total transaction of $66,999.33. Following the acquisition, the insider directly owned 199,999 shares of the company’s stock, valued at approximately $401,997.99. The trade was a 20.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.80% of the stock is owned by corporate insiders.

Institutional Trading of NeuroOne Medical Technologies

Several institutional investors have recently modified their holdings of the stock. Bard Associates Inc. purchased a new position in NeuroOne Medical Technologies during the 2nd quarter worth approximately $929,000. BlackRock Inc. acquired a new stake in NeuroOne Medical Technologies during the 2nd quarter worth $76,000. Finally, Susquehanna International Group LLP acquired a new stake in NeuroOne Medical Technologies during the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Price Performance

Shares of NMTC traded down $0.04 during mid-day trading on Wednesday, reaching $1.06. The company’s stock had a trading volume of 56,995 shares, compared to its average volume of 138,309. NeuroOne Medical Technologies has a 12-month low of $0.96 and a 12-month high of $6.12. The stock has a market cap of $9.66 million, a PE ratio of -1.12 and a beta of 0.77. The company’s 50 day moving average is $1.54 and its 200 day moving average is $2.85.

NeuroOne Medical Technologies (NASDAQ:NMTC) last announced its quarterly 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). The business had revenue of $1.97 million during the quarter, compared to analyst estimates of $2.17 million. NeuroOne Medical Technologies had a negative net margin of 71.50% and a negative return on equity of 128.12%. As a group, sell-side analysts anticipate that NeuroOne Medical Technologies will post -0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corporation is a medical device company focused on developing and commercializing technologies for recording, monitoring, and treating neurological disorders. Its products are designed for use by neurosurgeons and neurologists in procedures involving the brain and nervous system, including the diagnosis and treatment of epilepsy and other neurological conditions.

The company’s product portfolio includes the Evo cortical and stereoelectroencephalography (sEEG) electrode systems, which are used to record electrical activity in the brain.