NeuroOne Medical Technologies (NASDAQ:NMTC) Shares Down 8.4% – Here’s What Happened

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) shares were down 8.4% during mid-day trading on Thursday . The company traded as low as $0.7301 and last traded at $0.7350. Approximately 299,251 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 253,055 shares. The stock had previously closed at $0.8022.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. One equities research 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.com, NeuroOne Medical Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.23.

NeuroOne Medical Technologies Trading Up 6.2%

The business has a 50-day moving average of $0.79 and a 200 day moving average of $0.81. The firm has a market capitalization of $39.35 million, a PE ratio of -9.75 and a beta of 0.71.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its quarterly earnings data on Tuesday, December 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. NeuroOne Medical Technologies had a negative net margin of 29.81% and a negative return on equity of 74.69%. The firm had revenue of $2.74 million for the quarter, compared to the consensus estimate of $2.47 million. During the same period in the previous year, the firm earned ($0.46) EPS.

Institutional Investors Weigh In On NeuroOne Medical Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMTC. Focus Financial Network Inc. bought a new position in shares of NeuroOne Medical Technologies during the 3rd quarter worth approximately $31,000. Warberg Asset Management LLC purchased a new stake in shares of NeuroOne Medical Technologies during the second quarter valued at approximately $27,000. Legato Capital Management LLC bought a new stake in NeuroOne Medical Technologies during the fourth quarter worth $34,000. Susquehanna International Group LLP purchased a new position in NeuroOne Medical Technologies in the third quarter worth $47,000. Finally, XTX Topco Ltd bought a new position in NeuroOne Medical Technologies in the 2nd quarter valued at $51,000. 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.