NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Down 18.6% in March

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 87,465 shares, a drop of 18.6% from the February 26th total of 107,470 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 277,036 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

NMTC has been the subject of a number of analyst reports. JonesTrading assumed coverage on NeuroOne Medical Technologies in a research report on Monday, March 2nd. They set a “buy” rating and a $1.50 price objective for the company. Wall Street Zen upgraded NeuroOne Medical Technologies to a “sell” rating in a report on Saturday, February 21st. Finally, Zacks Research downgraded shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.98.

NeuroOne Medical Technologies Price Performance

NMTC remained flat at $0.73 during trading on Monday. The company’s stock had a trading volume of 63,021 shares, compared to its average volume of 257,856. The stock has a market capitalization of $37.09 million, a price-to-earnings ratio of -4.32 and a beta of 0.74. NeuroOne Medical Technologies has a 12-month low of $0.40 and a 12-month high of $1.16. The business’s fifty day simple moving average is $0.78 and its two-hundred day simple moving average is $0.79.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%. The company had revenue of $2.89 million during the quarter, compared to analyst estimates of $2.47 million.

Insider Buying and Selling

In related news, insider David J. Wambeke bought 1,000,000 shares of the business’s stock in a transaction on Sunday, March 1st. The shares were purchased at an average cost of $0.67 per share, with a total value of $670,000.00. Following the acquisition, the insider owned 1,000,000 shares of the company’s stock, valued at $670,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 14,637 shares of company stock worth $11,710. 11.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Institutional investors have recently made changes to their positions in the stock. Focus Financial Network Inc. acquired a new position in shares of NeuroOne Medical Technologies during the third quarter valued at about $31,000. Legato Capital Management LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 4th quarter valued at about $34,000. Squarepoint Ops LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 4th quarter valued at about $36,000. Susquehanna International Group LLP bought a new stake in NeuroOne Medical Technologies in the 3rd quarter valued at about $47,000. Finally, XTX Topco Ltd acquired a new position in NeuroOne Medical Technologies during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

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.