NeuroOne Medical Technologies (NASDAQ:NMTC) Stock Price Down 8.4% – What’s Next?

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

Wall Street Analyst Weigh In

NMTC has been the subject of several recent research reports. Zacks Research raised shares of NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeuroOne Medical Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NeuroOne Medical Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $2.23.

NeuroOne Medical Technologies Trading Down 8.4%

The company’s fifty day moving average is $0.79 and its 200-day moving average is $0.81. The firm has a market capitalization of $37.07 million, a P/E ratio of -9.19 and a beta of 0.71.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, December 16th. The company reported $0.04 earnings per share 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 during the quarter, compared to analyst estimates of $2.47 million. During the same quarter in the previous year, the business earned ($0.46) EPS.

Institutional Trading of NeuroOne Medical Technologies

Hedge funds have recently added to or reduced their stakes in the business. Sio Capital Management LLC bought a new position in NeuroOne Medical Technologies in the 2nd quarter worth approximately $2,390,000. Vanguard Group Inc. boosted its position in shares of NeuroOne Medical Technologies by 31.2% in the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock valued at $1,403,000 after acquiring an additional 375,639 shares during the period. Virtu Financial LLC acquired a new stake in shares of NeuroOne Medical Technologies in the third quarter worth $88,000. Goldman Sachs Group Inc. bought a new position in NeuroOne Medical Technologies during the first quarter worth $84,000. Finally, XTX Topco Ltd acquired a new position in NeuroOne Medical Technologies during the 2nd quarter valued at $51,000. 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.