NeuroOne Medical Technologies (NASDAQ:NMTC) Posts Quarterly Earnings Results

NeuroOne Medical Technologies (NASDAQ:NMTC) posted its earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.89 million during the quarter. NeuroOne Medical Technologies had a negative return on equity of 74.69% and a negative net margin of 29.81%.

NeuroOne Medical Technologies Stock Up 7.8%

NeuroOne Medical Technologies stock opened at $0.81 on Tuesday. The stock has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $0.80. The stock has a market capitalization of $41.01 million, a price-to-earnings ratio of -10.17 and a beta of 0.70. NeuroOne Medical Technologies has a 12-month low of $0.40 and a 12-month high of $1.25.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.23.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of large investors have recently modified their holdings of NMTC. Sio Capital Management LLC bought a new stake in shares of NeuroOne Medical Technologies during the second quarter valued at approximately $2,390,000. Vanguard Group Inc. lifted its holdings in NeuroOne Medical Technologies by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after buying an additional 375,639 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in NeuroOne Medical Technologies by 10.2% during the 4th quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after buying an additional 70,428 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in NeuroOne Medical Technologies in the 4th quarter valued at $143,000. Finally, Virtu Financial LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 3rd quarter valued at $88,000. 16.07% of the stock is currently owned by institutional investors and hedge funds.

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.