NeuroOne Medical Technologies Corporation (NASDAQ:NMTC – Get Free Report) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 12,127 shares, a decline of 58.0% from the June 30th total of 28,845 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 25,743 shares, the days-to-cover ratio is currently 0.5 days.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. LADENBURG THALM/SH SH lifted their target price on NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NeuroOne Medical Technologies currently has an average rating of “Hold” and an average price target of $11.67.
Get Our Latest Stock Report on NMTC
NeuroOne Medical Technologies Price Performance
NeuroOne Medical Technologies (NASDAQ:NMTC – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $2.58 million. NeuroOne Medical Technologies had a negative net margin of 68.35% and a negative return on equity of 99.43%. On average, sell-side analysts anticipate that NeuroOne Medical Technologies will post -0.36 EPS for the current fiscal year.
Insider Buying and Selling at NeuroOne Medical Technologies
In other news, Director Mark Christianson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $3.18, for a total value of $31,800.00. Following the completion of the sale, the director owned 20,692 shares of the company’s stock, valued at $65,800.56. This represents a 32.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On NeuroOne Medical Technologies
Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd raised its holdings in NeuroOne Medical Technologies by 321.1% in the fourth quarter. XTX Topco Ltd now owns 85,454 shares of the company’s stock valued at $65,000 after acquiring an additional 65,163 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 4th quarter valued at $36,000. Essex Investment Management Co. LLC purchased a new stake in shares of NeuroOne Medical Technologies during the 4th quarter worth $143,000. Renaissance Technologies LLC grew its stake in shares of NeuroOne Medical Technologies by 10.2% during the fourth quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after purchasing an additional 70,428 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in NeuroOne Medical Technologies in the fourth quarter valued at $34,000. 16.07% of the stock is owned by institutional investors and hedge funds.
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.
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