Short Interest in Neuronetics, Inc. (NASDAQ:STIM) Grows By 20.0%

Neuronetics, Inc. (NASDAQ:STIM) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 8,588,113 shares, an increase of 20.0% from the January 15th total of 7,159,363 shares. Approximately 13.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,084,185 shares, the days-to-cover ratio is presently 7.9 days. Based on an average daily trading volume, of 1,084,185 shares, the days-to-cover ratio is presently 7.9 days. Approximately 13.9% of the shares of the company are sold short.

Neuronetics Stock Performance

NASDAQ STIM traded up $0.01 during trading on Tuesday, reaching $1.43. The company’s stock had a trading volume of 1,903,382 shares, compared to its average volume of 2,499,166. The company has a current ratio of 2.24, a quick ratio of 2.09 and a debt-to-equity ratio of 2.09. Neuronetics has a 12 month low of $1.25 and a 12 month high of $5.92. The firm has a 50 day moving average price of $1.68 and a 200 day moving average price of $2.40. The firm has a market capitalization of $97.94 million, a price-to-earnings ratio of -1.74 and a beta of 0.78.

Wall Street Analyst Weigh In

Several research firms have commented on STIM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Insider Activity at Neuronetics

In related news, CEO Keith J. Sullivan sold 40,976 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total transaction of $63,512.80. Following the transaction, the chief executive officer directly owned 1,567,012 shares of the company’s stock, valued at approximately $2,428,868.60. The trade was a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

A number of institutional investors have recently modified their holdings of the stock. Presidio Capital Management LLC bought a new stake in Neuronetics during the third quarter worth about $32,000. Intrua Financial LLC acquired a new stake in shares of Neuronetics during the 3rd quarter worth approximately $33,000. Sherbrooke Park Advisers LLC bought a new position in Neuronetics in the third quarter valued at approximately $33,000. Police & Firemen s Retirement System of New Jersey bought a new position in Neuronetics in the second quarter valued at approximately $34,000. Finally, Raymond James Financial Inc. acquired a new position in Neuronetics during the second quarter valued at approximately $37,000. 53.59% of the stock is currently owned by institutional investors.

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.