NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Significant Decrease in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC – Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 75,782 shares, a decline of 68.7% from the August 31st total of 242,435 shares. Based on an average daily volume of 114,269 shares, the short-interest ratio is currently 0.7 days. Currently, 0.9% of the shares of the company are short sold.

Analyst Ratings Changes

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

Get Our Latest Analysis on NeuroOne Medical Technologies

Insider Buying and Selling at NeuroOne Medical Technologies

In related news, insider David J. Wambeke acquired 33,333 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $2.01 per share, with a total value of $66,999.33. Following the completion of the transaction, the insider directly owned 199,999 shares of the company’s stock, valued at $401,997.99. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Christianson sold 10,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were 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 in the company, valued at $65,800.56. The trade was a 32.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.80% of the stock is owned by insiders.

Institutional Trading of NeuroOne Medical Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bard Associates Inc. bought a new stake in NeuroOne Medical Technologies in the 2nd quarter valued at about $929,000. BlackRock Inc. acquired a new position in shares of NeuroOne Medical Technologies during the 2nd quarter worth approximately $76,000. Finally, Susquehanna International Group LLP bought a new position in shares of NeuroOne Medical Technologies during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

NeuroOne Medical Technologies Price Performance

NMTC stock remained flat at $1.33 during trading hours on Friday. The company’s stock had a trading volume of 120,791 shares, compared to its average volume of 154,332. The firm has a market cap of $12.11 million, a price-to-earnings ratio of -1.40 and a beta of 0.65. The firm has a 50 day moving average price of $1.71 and a 200-day moving average price of $3.16. NeuroOne Medical Technologies has a 1 year low of $1.28 and a 1 year high of $6.96.

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

About NeuroOne Medical Technologies

(Get Free Report)

NeuroOne Medical Technologies Corp. is a medical technology company focused on developing, manufacturing and commercializing thin-film electrode technology for neurological applications. Its products are designed to support the recording, monitoring and stimulation of electrical activity in the brain and nervous system, with potential uses in the diagnosis and treatment of neurological disorders.

The company’s product portfolio includes the Evo family of electrode products, including devices used for stereoelectroencephalography and cortical monitoring.

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