NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Down 79.7% in April

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 27,795 shares, a decline of 79.7% from the April 15th total of 137,242 shares. Based on an average trading volume of 54,222 shares, the short-interest ratio is currently 0.5 days. Currently, 0.4% of the company’s stock are sold short.

NeuroOne Medical Technologies Stock Performance

NASDAQ NMTC traded up $0.09 during trading hours on Thursday, reaching $4.60. The stock had a trading volume of 118,296 shares, compared to its average volume of 44,079. The stock has a fifty day moving average of $4.56 and a 200 day moving average of $4.55. The stock has a market cap of $39.65 million, a P/E ratio of -5.41 and a beta of 0.60. NeuroOne Medical Technologies has a 52-week low of $3.27 and a 52-week high of $6.96.

NeuroOne Medical Technologies (NASDAQ:NMTC) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative net margin of 68.35% and a negative return on equity of 98.33%. The company had revenue of $2.39 million during the quarter, compared to analyst estimates of $2.58 million. On average, equities research analysts forecast that NeuroOne Medical Technologies will post -0.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. JonesTrading assumed coverage on NeuroOne Medical Technologies in a research report on Monday, March 2nd. They issued a “buy” rating and a $9.00 target price on the stock. Zacks Research lowered NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings lowered NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, LADENBURG THALM/SH SH upped their target price on NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NeuroOne Medical Technologies has an average rating of “Hold” and an average target price of $11.67.

Insider Buying and Selling at NeuroOne Medical Technologies

In other NeuroOne Medical Technologies news, insider David J. Wambeke purchased 166,666 shares of the company’s stock in a transaction dated Sunday, March 1st. The shares were acquired at an average price of $4.02 per share, for a total transaction of $669,997.32. Following the completion of the purchase, the insider owned 166,666 shares of the company’s stock, valued at approximately $669,997.32. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,438 shares of company stock worth $11,702 in the last 90 days. 11.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NeuroOne Medical Technologies

Several hedge funds have recently bought and sold shares of NMTC. Goldman Sachs Group Inc. purchased a new stake in NeuroOne Medical Technologies in the 1st quarter worth approximately $84,000. XTX Topco Ltd purchased a new stake in NeuroOne Medical Technologies in the 2nd quarter worth approximately $51,000. Vanguard Group Inc. boosted its position in NeuroOne Medical Technologies by 31.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after purchasing an additional 375,639 shares in the last quarter. Virtu Financial LLC purchased a new stake in NeuroOne Medical Technologies in the 3rd quarter worth approximately $88,000. Finally, Susquehanna International Group LLP purchased a new stake in NeuroOne Medical Technologies in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors 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.