NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 195.4% in August

by · The Markets Daily

NeuroOne Medical Technologies Corporation (NASDAQ:NMTCGet Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 242,435 shares, a growth of 195.4% from the August 15th total of 82,079 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 1,364,316 shares, the short-interest ratio is currently 0.2 days.

Insider Buying and Selling at NeuroOne Medical Technologies

In other news, insider David J. Wambeke bought 33,333 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $2.01 per share, for a total transaction of $66,999.33. Following the purchase, the insider owned 199,999 shares in the company, valued at $401,997.99. This represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Christianson sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 20,692 shares of the company’s stock, valued at $65,800.56. This represents a 32.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new stake in shares of NeuroOne Medical Technologies in the second quarter worth about $41,000. Bard Associates Inc. bought a new position in NeuroOne Medical Technologies during the second quarter valued at approximately $929,000. BlackRock Inc. bought a new position in NeuroOne Medical Technologies during the second quarter valued at approximately $76,000. Finally, Legato Capital Management LLC purchased a new position in NeuroOne Medical Technologies during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 16.07% of the company’s stock.

NeuroOne Medical Technologies Stock Performance

NMTC stock opened at $1.50 on Tuesday. NeuroOne Medical Technologies has a one year low of $1.42 and a one year high of $6.96. The company’s fifty day moving average price is $1.94 and its 200-day moving average price is $3.35. The company has a market capitalization of $13.66 million, a PE ratio of -1.58 and a beta of 0.65.

NeuroOne Medical Technologies (NASDAQ:NMTCGet Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $1.97 million for the quarter, compared to analysts’ expectations of $2.17 million. NeuroOne Medical Technologies had a negative net margin of 71.50% and a negative return on equity of 128.12%. On average, research analysts predict that NeuroOne Medical Technologies will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Maxim Group set a $5.00 price objective on NeuroOne Medical Technologies and gave the company a “buy” rating in a research report on Friday, August 14th. Weiss Ratings cut NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.33.

Check Out Our Latest Stock Analysis on NMTC

NeuroOne Medical Technologies Company Profile

(Get Free Report)

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.

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