Neuronetics (NASDAQ:STIM) Stock Price Down 4.3% – Here’s What Happened

by · The Markets Daily

Neuronetics, Inc. (NASDAQ:STIM – Get Free Report) shares fell 4.3% during mid-day trading on Monday . The company traded as low as $1.90 and last traded at $1.98. 1,508,653 shares were traded during mid-day trading, an increase of 10% from the average session volume of 1,366,266 shares. The stock had previously closed at $2.07.

Analyst Ratings Changes

Several analysts recently commented on STIM shares. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

View Our Latest Research Report on Neuronetics

Neuronetics Price Performance

The stock has a fifty day moving average of $1.63 and a two-hundred day moving average of $2.76. The company has a current ratio of 2.24, a quick ratio of 2.09 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $135.61 million, a price-to-earnings ratio of -2.41 and a beta of 0.66.

Neuronetics (NASDAQ:STIM – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Neuronetics had a negative return on equity of 131.15% and a negative net margin of 33.88%.The business had revenue of $37.30 million during the quarter, compared to analyst estimates of $37.85 million. As a group, equities research analysts forecast that Neuronetics, Inc. will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STIM. Goldman Sachs Group Inc. lifted its position in shares of Neuronetics by 2,993.3% during the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after purchasing an additional 610,014 shares in the last quarter. Fermata Advisors LLC bought a new position in Neuronetics in the 2nd quarter worth approximately $52,000. R Squared Ltd acquired a new position in Neuronetics during the 2nd quarter worth $52,000. AdvisorShares Investments LLC lifted its holdings in Neuronetics by 8.3% during the 2nd quarter. AdvisorShares Investments LLC now owns 130,534 shares of the company’s stock worth $456,000 after buying an additional 10,000 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Neuronetics by 436.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 86,919 shares of the company’s stock valued at $303,000 after buying an additional 70,709 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Neuronetics Company Profile

(Get Free Report)

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.

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