Neuronetics (NASDAQ:STIM) Stock: Insider Jorey Chernett Sells 86,757 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 86,757 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $1.61, for a total value of $139,678.77. Following the sale, the insider directly owned 10,219,468 shares of the company’s stock, valued at approximately $16,453,343.48. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total value of $599,421.56.
• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The shares were sold at an average price of $1.15, for a total value of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20.
• On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The shares were sold at an average price of $2.06, for a total value of $214,155.54.
• On Monday, November 9th, Jorey Chernett purchased 40,000 shares of Neuronetics stock. The shares were bought at an average price of $1.99 per share, with a total value of $79,600.00.
• On Friday, October 30th, Jorey Chernett purchased 18,000 shares of Neuronetics stock. The shares were bought at an average price of $2.27 per share, with a total value of $40,860.00.

Neuronetics Stock Performance

Shares of NASDAQ STIM traded down $0.04 during mid-day trading on Friday, hitting $1.39. 16,248,659 shares of the company were exchanged, compared to its average volume of 2,081,244. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 2.76. The stock has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $1.87. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $3.44. The firm has a market cap of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $41.96 million for the quarter, compared to analyst estimates of $40.42 million. Neuronetics had a negative net margin of 14.45% and a negative return on equity of 102.23%. On average, sell-side analysts forecast that Neuronetics, Inc. will post -0.30 EPS for the current fiscal year.

Institutional Trading of Neuronetics

A number of institutional investors have recently modified their holdings of the business. Jump Financial LLC acquired a new position in Neuronetics during the third quarter worth $69,000. Marshall Wace LLP raised its position in Neuronetics by 219.5% in the third quarter. Marshall Wace LLP now owns 1,551,840 shares of the company’s stock worth $3,631,000 after acquiring an additional 1,066,148 shares in the last quarter. Empowered Funds LLC purchased a new position in Neuronetics in the third quarter worth $211,000. HighTower Advisors LLC lifted its holdings in Neuronetics by 95.4% in the third quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock valued at $2,578,000 after acquiring an additional 537,761 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Neuronetics in the third quarter valued at $176,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Key Neuronetics News

These are some of the STIM news items that stood out recently:

• Positive Sentiment: Third-quarter revenue was $41.96 million, above the $40.43 million analyst estimate, while its $0.02-per-share loss was narrower than the expected $0.09 loss. The results may support sentiment about improving performance. Article: Neuronetics stock: Q3 revenue rises as loss narrows
• Negative Sentiment: Major shareholder Jorey Chernett disclosed several sales from November 6–13, totaling about 3.34 million shares, partly offset by a 40,000-share purchase. After the latest sale, Chernett held about 7.33 million shares. The scale of the selling may raise concerns about near-term supply and investor confidence. SEC filing on Chernett’s transactions

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STIM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. BTIG Research reissued a “buy” rating and set a $6.00 price target on shares of Neuronetics in a report on Thursday, September 17th. Finally, B. Riley Financial raised their price objective on shares of Neuronetics from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Neuronetics Company Profile

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.