Neuronetics, Inc. (NASDAQ:STIM) Shares Sold by MCF Advisors LLC

MCF Advisors LLC lessened its holdings in Neuronetics, Inc. (NASDAQ:STIM) by 60.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,000 shares of the company’s stock after selling 3,000 shares during the period. MCF Advisors LLC’s holdings in Neuronetics were worth $32,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of STIM. Polar Capital Holdings Plc acquired a new stake in Neuronetics during the first quarter valued at $15,463,000. Archon Capital Management LLC lifted its position in shares of Neuronetics by 13.9% in the first quarter. Archon Capital Management LLC now owns 1,212,895 shares of the company’s stock worth $15,004,000 after buying an additional 148,475 shares during the last quarter. First Light Asset Management LLC acquired a new stake in shares of Neuronetics in the first quarter worth about $14,223,000. Parian Global Management LP acquired a new stake in shares of Neuronetics in the first quarter worth about $13,974,000. Finally, Royce & Associates LP lifted its position in shares of Neuronetics by 9.8% in the first quarter. Royce & Associates LP now owns 1,026,594 shares of the company’s stock worth $12,699,000 after buying an additional 92,036 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the company. Zacks Investment Research lowered Neuronetics from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 7th. Piper Sandler dropped their price objective on Neuronetics from $21.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 3rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.25.

Shares of STIM opened at $6.52 on Wednesday. Neuronetics, Inc. has a 12-month low of $4.01 and a 12-month high of $22.43. The company has a quick ratio of 11.18, a current ratio of 11.65 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $171.59 million, a price-to-earnings ratio of -6.72 and a beta of 2.56. The stock’s 50-day moving average price is $9.98 and its 200 day moving average price is $12.49.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Neuronetics had a negative net margin of 41.24% and a negative return on equity of 35.67%. The firm had revenue of $14.20 million for the quarter, compared to the consensus estimate of $14.70 million. Equities research analysts expect that Neuronetics, Inc. will post -1.13 EPS for the current year.

In other Neuronetics news, CEO Keith J. Sullivan sold 50,893 shares of Neuronetics stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $13.46, for a total transaction of $685,019.78. Following the sale, the chief executive officer now directly owns 630,646 shares of the company’s stock, valued at $8,488,495.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Andrew Macan sold 2,591 shares of the business’s stock in a transaction that occurred on Thursday, July 8th. The stock was sold at an average price of $14.61, for a total value of $37,854.51. Following the completion of the transaction, the vice president now directly owns 210,491 shares in the company, valued at $3,075,273.51. The disclosure for this sale can be found here. Insiders have sold 60,047 shares of company stock worth $808,718 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.

About Neuronetics

Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.

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Institutional Ownership by Quarter for Neuronetics (NASDAQ:STIM)

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