NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 36.8% in March

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 119,622 shares, a growth of 36.8% from the March 15th total of 87,465 shares. Based on an average daily volume of 116,216 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.3% of the company’s shares are short sold.

NeuroOne Medical Technologies Stock Up 1.4%

Shares of NMTC traded up $0.01 during mid-day trading on Wednesday, hitting $0.74. 538,171 shares of the company’s stock traded hands, compared to its average volume of 173,887. NeuroOne Medical Technologies has a 1 year low of $0.50 and a 1 year high of $1.16. The firm has a market capitalization of $37.40 million, a P/E ratio of -4.35 and a beta of 0.63. The business’s 50-day moving average price is $4.47 and its 200-day moving average price is $4.66.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its earnings results on Tuesday, February 17th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.06. NeuroOne Medical Technologies had a negative return on equity of 119.92% and a negative net margin of 78.34%.The firm had revenue of $2.89 million for the quarter, compared to analysts’ expectations of $2.47 million.

Analyst Ratings Changes

Several brokerages have weighed in on NMTC. Wall Street Zen upgraded NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. Zacks Research downgraded NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Finally, JonesTrading began coverage on NeuroOne Medical Technologies in a research report on Monday, March 2nd. They issued a “buy” rating and a $9.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.90.

Insiders Place Their Bets

In related news, insider David J. Wambeke acquired 166,666 shares of the stock in a transaction on Sunday, March 1st. The stock was purchased at an average price of $4.02 per share, for a total transaction of $669,997.32. Following the completion of the transaction, the insider owned 166,666 shares of the company’s stock, valued at $669,997.32. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,438 shares of company stock valued at $11,702 in the last ninety days. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Hedge funds have recently made changes to their positions in the business. Focus Financial Network Inc. purchased a new position in shares of NeuroOne Medical Technologies during the third quarter valued at approximately $31,000. Legato Capital Management LLC purchased a new position in shares of NeuroOne Medical Technologies during the fourth quarter valued at approximately $34,000. Squarepoint Ops LLC purchased a new position in shares of NeuroOne Medical Technologies during the fourth quarter valued at approximately $36,000. Susquehanna International Group LLP purchased a new position in shares of NeuroOne Medical Technologies during the third quarter valued at approximately $47,000. Finally, XTX Topco Ltd purchased a new position in shares of NeuroOne Medical Technologies during the second quarter valued at approximately $51,000. 16.07% of the stock is owned by hedge funds and other 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.