NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 112.1% in August

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 82,079 shares, a growth of 112.1% from the July 30th total of 38,703 shares. Based on an average trading volume of 102,758 shares, the short-interest ratio is currently 0.8 days. Currently, 1.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

NMTC has been the subject of several recent analyst reports. Maxim Group set a $5.00 price target on NeuroOne Medical Technologies and gave the stock a “buy” rating in a research note on Friday, August 14th. LADENBURG THALM/SH SH lifted 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. Finally, Weiss Ratings downgraded shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.33.

NeuroOne Medical Technologies Trading Down 10.6%

Shares of NMTC stock opened at $1.77 on Friday. NeuroOne Medical Technologies has a 12-month low of $1.42 and a 12-month high of $6.96. The stock’s 50-day moving average price is $2.28 and its 200-day moving average price is $3.57. The stock has a market capitalization of $16.12 million, a price-to-earnings ratio of -1.86 and a beta of 0.61.

NeuroOne Medical Technologies (NASDAQ:NMTC) last announced 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). NeuroOne Medical Technologies had a negative net margin of 71.50% and a negative return on equity of 128.12%. The firm had revenue of $1.97 million for the quarter, compared to the consensus estimate of $2.17 million. As a group, research analysts predict that NeuroOne Medical Technologies will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at NeuroOne Medical Technologies

In related news, Director Mark Christianson sold 10,000 shares of the 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 completion of the sale, the director owned 20,692 shares in the company, valued at approximately $65,800.56. This trade represents a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of NeuroOne Medical Technologies in the second quarter valued at $41,000. BlackRock Inc. purchased a new stake in NeuroOne Medical Technologies during the second quarter valued at $76,000. Legato Capital Management LLC purchased a new stake in NeuroOne Medical Technologies during the fourth quarter valued at $34,000. Squarepoint Ops LLC bought a new position in NeuroOne Medical Technologies during the fourth quarter valued at $36,000. Finally, XTX Topco Ltd lifted its position in NeuroOne Medical Technologies by 321.1% during the fourth quarter. XTX Topco Ltd now owns 85,454 shares of the company’s stock valued at $65,000 after purchasing an additional 65,163 shares during the last quarter. 16.07% of the stock is currently owned by 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.