NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Given Average Recommendation of “Hold” by Brokerages

Shares of NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) have earned an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $11.6667.

Several brokerages have recently issued reports on NMTC. Zacks Research lowered shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings downgraded NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, LADENBURG THALM/SH SH lifted their target price on NeuroOne Medical Technologies from $1.60 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th.

Insider Activity

In other NeuroOne Medical Technologies news, Director Mark Christianson sold 10,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total value of $31,800.00. Following the completion of the sale, the director directly owned 20,692 shares in the company, valued at $65,800.56. This represents a 32.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new stake in NeuroOne Medical Technologies during the 1st quarter worth approximately $84,000. XTX Topco Ltd bought a new position in NeuroOne Medical Technologies in the second quarter valued at approximately $51,000. Vanguard Group Inc. lifted its stake in 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 buying an additional 375,639 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of NeuroOne Medical Technologies in the third quarter valued at approximately $88,000. Finally, Susquehanna International Group LLP bought a new stake in shares of NeuroOne Medical Technologies during the third quarter worth $47,000. 16.07% of the stock is currently owned by institutional investors and hedge funds.

NeuroOne Medical Technologies Trading Down 8.0%

NASDAQ NMTC opened at $2.75 on Friday. The stock has a 50-day simple moving average of $3.66 and a 200 day simple moving average of $4.35. The company has a market capitalization of $23.93 million, a PE ratio of -3.24 and a beta of 0.54. NeuroOne Medical Technologies has a 12 month low of $2.62 and a 12 month high of $6.96.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, May 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $1.86 million during the quarter, compared to analyst estimates of $2.58 million. NeuroOne Medical Technologies had a negative net margin of 68.35% and a negative return on equity of 99.43%. As a group, sell-side analysts predict that NeuroOne Medical Technologies will post -0.36 earnings per share for the current fiscal year.

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.