NeuroOne Medical Technologies (NASDAQ:NMTC) Trading 0.6% Higher – Should You Buy?

Shares of NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) shot up 0.6% on Monday . The stock traded as high as $3.53 and last traded at $3.46. Approximately 35,919 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 33,939 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NMTC shares. Wall Street Zen raised shares of NeuroOne Medical Technologies to a “sell” rating in a research note on Saturday, February 21st. Zacks Research cut shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings cut shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. JonesTrading assumed coverage on shares of NeuroOne Medical Technologies in a research report on Monday, March 2nd. They issued a “buy” rating and a $9.00 price objective for the company. Finally, LADENBURG THALM/SH SH upped their price objective on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.67.

NeuroOne Medical Technologies Trading Up 0.6%

The business’s 50-day simple moving average is $4.27 and its two-hundred day simple moving average is $4.48. The company has a market capitalization of $29.83 million, a PE ratio of -4.07 and a beta of 0.51.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative return on equity of 98.33% and a negative net margin of 68.35%.The company had revenue of $2.39 million for the quarter, compared to the consensus estimate of $2.58 million. On average, analysts forecast that NeuroOne Medical Technologies Corporation will post -0.35 EPS for the current year.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of NeuroOne Medical Technologies by 31.2% during the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after purchasing an additional 375,639 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in NeuroOne Medical Technologies by 10.2% in the fourth quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after acquiring an additional 70,428 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in NeuroOne Medical Technologies in the fourth quarter worth about $143,000. Virtu Financial LLC bought a new position in NeuroOne Medical Technologies in the third quarter worth about $88,000. Finally, Goldman Sachs Group Inc. bought a new position in NeuroOne Medical Technologies in the first quarter worth about $84,000. Institutional investors own 16.07% of the company’s stock.

About NeuroOne Medical Technologies

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.