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

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 38,703 shares, an increase of 219.1% from the July 15th total of 12,127 shares. Based on an average trading volume of 34,041 shares, the short-interest ratio is currently 1.1 days. Currently, 0.5% of the shares of the company are short sold.

Insider Activity at NeuroOne Medical Technologies

In other news, Director Mark Christianson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total transaction of $31,800.00. Following the transaction, the director owned 20,692 shares in the company, valued at approximately $65,800.56. This trade represents a 32.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

Several large investors have recently modified their holdings of the stock. Legato Capital Management LLC acquired a new position in NeuroOne Medical Technologies in the fourth quarter valued at about $34,000. Squarepoint Ops LLC acquired a new stake in NeuroOne Medical Technologies during the fourth quarter worth about $36,000. Susquehanna International Group LLP acquired a new stake in NeuroOne Medical Technologies during the third quarter worth about $47,000. XTX Topco Ltd acquired a new stake in NeuroOne Medical Technologies during the second quarter worth about $51,000. Finally, BlackRock Inc. bought a new position in NeuroOne Medical Technologies in the 2nd quarter valued at about $76,000. 16.07% of the stock is owned by institutional investors and hedge funds.

NeuroOne Medical Technologies Stock Up 6.0%

Shares of NMTC traded up $0.11 during mid-day trading on Friday, hitting $1.94. 94,081 shares of the company’s stock were exchanged, compared to its average volume of 66,326. NeuroOne Medical Technologies has a 52 week low of $1.42 and a 52 week high of $6.96. The stock’s 50-day simple moving average is $2.54 and its 200-day simple moving average is $3.79. The firm has a market cap of $16.88 million, a price-to-earnings ratio of -2.04 and a beta of 0.61.

NeuroOne Medical Technologies (NASDAQ:NMTC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.30. The business had revenue of $1.97 million during the quarter, compared to analysts’ expectations of $2.55 million. NeuroOne Medical Technologies had a negative return on equity of 115.61% and a negative net margin of 71.50%. Analysts forecast that NeuroOne Medical Technologies will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on NMTC shares. Maxim Group set a $5.00 price objective on NeuroOne Medical Technologies and gave the company a “buy” rating in a report on Friday. Weiss Ratings raised NeuroOne Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Finally, LADENBURG THALM/SH SH boosted their target price on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NeuroOne Medical Technologies presently has an average rating of “Hold” and an average target price of $7.33.

About NeuroOne Medical Technologies

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.