Neuronetics (NASDAQ:STIM) Trading Up 1.7%

Neuronetics, Inc. (NASDAQ:STIM)’s share price traded up 1.7% during mid-day trading on Thursday . The company traded as high as $1.80 and last traded at $1.78. 19,616 shares were traded during trading, a decline of 86% from the average session volume of 137,255 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, William Blair raised shares of Neuronetics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 14th.

Neuronetics Trading Up 1.7 %

The firm has a market cap of $53.40 million, a PE ratio of -1.85 and a beta of 2.32. The company has a quick ratio of 5.18, a current ratio of 5.65 and a debt-to-equity ratio of 2.15. The company’s 50 day moving average price is $2.30 and its two-hundred day moving average price is $3.11.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. Neuronetics had a negative net margin of 37.61% and a negative return on equity of 75.84%. The business had revenue of $17.42 million for the quarter, compared to the consensus estimate of $17.10 million. As a group, sell-side analysts forecast that Neuronetics, Inc. will post -0.91 EPS for the current year.

Insider Activity

In related news, Director Robert Cascella purchased 50,000 shares of Neuronetics stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average price of $2.05 per share, with a total value of $102,500.00. Following the purchase, the director now directly owns 244,098 shares of the company’s stock, valued at approximately $500,400.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC increased its stake in Neuronetics by 2.4% in the 3rd quarter. Cannell Capital LLC now owns 2,833,982 shares of the company’s stock worth $3,826,000 after buying an additional 65,240 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Neuronetics by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,178,365 shares of the company’s stock worth $5,609,000 after acquiring an additional 51,881 shares in the last quarter. Millrace Asset Group Inc. grew its holdings in Neuronetics by 205.1% during the 4th quarter. Millrace Asset Group Inc. now owns 725,369 shares of the company’s stock worth $2,104,000 after acquiring an additional 487,591 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Neuronetics during the 4th quarter worth about $545,000. Finally, David J Yvars Group grew its holdings in Neuronetics by 108.1% during the 4th quarter. David J Yvars Group now owns 74,930 shares of the company’s stock worth $217,000 after acquiring an additional 38,930 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.