NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Stock Rated “Hold” by Sell-Side Brokerages

Shares of NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) have earned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.33.

A number of research firms have issued reports on NMTC. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Maxim Group set a $5.00 price target on NeuroOne Medical Technologies and gave the company a “buy” rating in a report on Friday, August 14th.

Insiders Place Their Bets

In other news, insider David Wambeke bought 33,333 shares of the stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $2.01 per share, with a total value of $66,999.33. Following the purchase, the insider owned 199,999 shares of the company’s stock, valued at approximately $401,997.99. The trade was a 20.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 11.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in shares of NeuroOne Medical Technologies in the second quarter worth approximately $41,000. Bard Associates Inc. acquired a new position in shares of NeuroOne Medical Technologies during the 2nd quarter worth about $929,000. Finally, BlackRock Inc. purchased a new position in NeuroOne Medical Technologies in the second quarter valued at $76,000. 16.07% of the stock is owned by institutional investors and hedge funds.

NeuroOne Medical Technologies Price Performance

Shares of NMTC stock opened at $0.88 on Friday. The business’s 50 day simple moving average is $1.21 and its 200 day simple moving average is $3.08. NeuroOne Medical Technologies has a one year low of $0.77 and a one year high of $6.12. The stock has a market capitalization of $8.01 million, a PE ratio of -0.93 and a beta of 0.95.

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

NeuroOne Medical Technologies Company Profile

NeuroOne Medical Technologies Corp. (NASDAQ: NMTC) is a medical device company focused on developing thin-film electrode technology for neurological applications. Its products are designed to support the diagnosis, monitoring and treatment of disorders affecting the brain and nervous system.

The company’s product portfolio includes the Evo cortical and stereoelectroencephalography (sEEG) electrode systems, which are used by clinicians to record electrical activity in the brain and help evaluate patients with conditions such as epilepsy.