Neuronetics (NASDAQ:STIM) Trading Up 1.7% – What’s Next?

Neuronetics, Inc. (NASDAQ:STIM)’s share price shot up 1.7% during mid-day trading on Thursday . The stock traded as high as $1.2981 and last traded at $1.23. Approximately 1,650,456 shares were traded during mid-day trading, a decline of 0% from the average daily volume of 1,652,191 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STIM. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Canaccord Genuity Group reduced their price target on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Neuronetics currently has an average rating of “Hold” and a consensus price target of $3.00.

Neuronetics Stock Performance

The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59. The firm’s fifty day moving average price is $1.44 and its 200 day moving average price is $1.51. The firm has a market capitalization of $85.60 million, a PE ratio of -2.28 and a beta of 1.05.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The firm had revenue of $34.45 million during the quarter, compared to analysts’ expectations of $34.17 million. On average, research analysts anticipate that Neuronetics, Inc. will post -0.46 earnings per share for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $1.17 per share, with a total value of $117,000.00. Following the purchase, the insider owned 10,553,988 shares in the company, valued at $12,348,165.96. This represents a 0.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 844,472 shares of company stock worth $1,150,456. 8.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STIM. UBS Group AG grew its position in Neuronetics by 20.4% in the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after acquiring an additional 442,216 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Neuronetics by 260.7% during the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock worth $1,575,000 after purchasing an additional 417,087 shares during the last quarter. Madryn Asset Management LP bought a new position in shares of Neuronetics during the 4th quarter valued at $25,497,000. Presidio Capital Management LLC raised its holdings in shares of Neuronetics by 217.0% during the 4th quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock valued at $52,000 after purchasing an additional 25,625 shares in the last quarter. Finally, Centiva Capital LP lifted its stake in shares of Neuronetics by 110.2% in the 3rd quarter. Centiva Capital LP now owns 117,322 shares of the company’s stock valued at $320,000 after purchasing an additional 61,501 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.