Short Interest in NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Decreases By 58.0%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 12,127 shares, a decline of 58.0% from the June 30th total of 28,845 shares. Based on an average daily volume of 25,743 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts recently weighed in on NMTC shares. LADENBURG THALM/SH SH upped their target price on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Three investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.67.

NeuroOne Medical Technologies Stock Down 2.4%

NeuroOne Medical Technologies stock traded down $0.04 during midday trading on Wednesday, reaching $1.63. The company’s stock had a trading volume of 27,335 shares, compared to its average volume of 42,801. NeuroOne Medical Technologies has a fifty-two week low of $1.61 and a fifty-two week high of $6.96. The company has a market cap of $14.18 million, a P/E ratio of -1.92 and a beta of 0.54. The business has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $4.11.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative return on equity of 99.43% and a negative net margin of 68.35%.The business had revenue of $1.86 million for the quarter, compared to analyst estimates of $2.58 million. As a group, equities analysts forecast that NeuroOne Medical Technologies will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other NeuroOne Medical Technologies news, Director Mark Christianson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total transaction of $31,800.00. Following the sale, the director owned 20,692 shares in the company, valued at $65,800.56. This represents a 32.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NeuroOne Medical Technologies by 10.2% in the 4th quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock valued at $578,000 after buying an additional 70,428 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of NeuroOne Medical Technologies in the 4th quarter valued at $143,000. Virtu Financial LLC purchased a new position in shares of NeuroOne Medical Technologies in the 3rd quarter valued at $88,000. Finally, Goldman Sachs Group Inc. acquired a new stake in NeuroOne Medical Technologies during the 1st quarter worth $84,000. 16.07% of the stock is currently owned by hedge funds and other institutional investors.

NeuroOne Medical Technologies Company Profile

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.