Neuronetics, Inc. (NASDAQ:STIM – Get Free Report) major shareholder Jorey Chernett sold 250,804 shares of Neuronetics stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $2.39, for a total value of $599,421.56. Following the sale, the insider directly owned 10,370,184 shares of the company’s stock, valued at approximately $24,784,739.76. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Jorey Chernett also recently made the following trade(s):
- On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The shares were sold at an average price of $1.15, for a total value of $2,515,108.65.
- On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20.
- On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The shares were sold at an average price of $1.61, for a total value of $139,678.77.
- On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The stock was sold at an average price of $2.06, for a total value of $214,155.54.
- On Monday, November 9th, Jorey Chernett bought 40,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.99 per share, with a total value of $79,600.00.
- On Friday, October 30th, Jorey Chernett bought 18,000 shares of Neuronetics stock. The shares were purchased at an average cost of $2.27 per share, with a total value of $40,860.00.
Neuronetics Stock Performance
Shares of Neuronetics stock traded down $0.04 on Friday, reaching $1.39. 16,248,659 shares of the stock were exchanged, compared to its average volume of 2,081,244. The business has a 50 day moving average price of $2.35 and a two-hundred day moving average price of $1.87. The firm has a market capitalization of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36. Neuronetics, Inc. has a twelve month low of $0.80 and a twelve month high of $3.44. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 2.76.
Neuronetics (NASDAQ:STIM – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Neuronetics had a negative net margin of 14.45% and a negative return on equity of 102.23%. The company had revenue of $41.96 million for the quarter, compared to the consensus estimate of $40.42 million. Analysts anticipate that Neuronetics, Inc. will post -0.30 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on STIM shares. B. Riley Financial increased their price objective on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. BTIG Research reaffirmed a “buy” rating and issued a $6.00 price target on shares of Neuronetics in a report on Thursday, September 17th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.00.
View Our Latest Stock Analysis on Neuronetics
Institutional Investors Weigh In On Neuronetics
A number of hedge funds and other institutional investors have recently made changes to their positions in STIM. Madryn Asset Management LP acquired a new position in shares of Neuronetics in the 2nd quarter valued at $24,102,634. BlackRock Inc. purchased a new stake in Neuronetics during the second quarter worth $776,000. FourWorld Capital Management LLC grew its position in Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after buying an additional 558,072 shares during the period. Hsbc Holdings PLC acquired a new stake in Neuronetics during the second quarter valued at $50,000. Finally, Royal Bank of Canada grew its position in Neuronetics by 102.9% during the first quarter. Royal Bank of Canada now owns 95,848 shares of the company’s stock valued at $140,000 after buying an additional 48,615 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.
About Neuronetics
Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.
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