Neuronetics (NASDAQ:STIM) Major Shareholder Sells 103,959 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 103,959 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $2.06, for a total transaction of $214,155.54. Following the sale, the insider owned 10,266,225 shares in the company, valued at approximately $21,148,423.50. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total transaction of $599,421.56.
• 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 stock was 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 stock was sold at an average price of $1.61, for a total value of $139,678.77.
• On Monday, November 9th, Jorey Chernett acquired 40,000 shares of Neuronetics stock. The stock was acquired 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 stock was acquired at an average price of $2.27 per share, with a total value of $40,860.00.

Neuronetics Trading Down 2.8%

Neuronetics stock traded down $0.04 during trading on Friday, hitting $1.39. The company’s stock had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The stock’s fifty day moving average is $2.35 and its 200 day moving average is $1.87. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $3.44. The stock has a market capitalization of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.82 and a current ratio of 2.01.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. Neuronetics had a negative return on equity of 102.23% and a negative net margin of 14.45%. The firm had revenue of $41.96 million for the quarter, compared to analyst estimates of $40.42 million. As a group, equities research analysts predict that Neuronetics, Inc. will post -0.30 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $6.00 price objective on shares of Neuronetics in a report on Thursday, September 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. B. Riley Financial upped their price target on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Madryn Asset Management LP purchased a new stake in Neuronetics during the second quarter valued at about $24,102,634. HighTower Advisors LLC raised its stake in shares of Neuronetics by 95.4% in the 3rd quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock valued at $2,578,000 after acquiring an additional 537,761 shares during the period. FourWorld Capital Management LLC raised its stake in shares of Neuronetics by 59.9% in the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after acquiring an additional 558,072 shares during the period. BlackRock Inc. purchased a new position in shares of Neuronetics in the 2nd quarter valued at $776,000. Finally, Empowered Funds LLC acquired a new position in shares of Neuronetics during the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Neuronetics Company Profile

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.