Neuronetics (NASDAQ:STIM) Cut to “Sell” at Wall Street Zen

Neuronetics (NASDAQ:STIM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, June 18th. Canaccord Genuity Group lowered their target price on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.00.

Neuronetics Price Performance

STIM opened at $1.41 on Friday. The stock has a fifty day moving average of $1.41 and a 200-day moving average of $1.50. The company has a market capitalization of $98.12 million, a P/E ratio of -2.61 and a beta of 1.06. Neuronetics has a fifty-two week low of $0.80 and a fifty-two week high of $4.85. The company has a debt-to-equity ratio of 3.59, a quick ratio of 1.50 and a current ratio of 1.67.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The business had revenue of $34.45 million for the quarter, compared to the consensus estimate of $34.17 million. On average, equities analysts expect that Neuronetics will post -0.46 EPS for the current year.

Insider Buying and Selling at Neuronetics

In related news, major shareholder Jorey Chernett bought 100,000 shares of Neuronetics stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $1.17 per share, with a total value of $117,000.00. Following the acquisition, the insider owned 10,553,988 shares in the company, valued at $12,348,165.96. This trade represents a 0.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders acquired 675,000 shares of company stock worth $911,500. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Neuronetics during the second quarter worth about $37,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Neuronetics in the 3rd quarter valued at approximately $33,000. Caption Management LLC bought a new stake in shares of Neuronetics during the 3rd quarter worth approximately $38,000. Larson Financial Group LLC lifted its holdings in shares of Neuronetics by 157.2% during the 3rd quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock worth $49,000 after acquiring an additional 10,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Neuronetics during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.