NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Short Interest Up 63.0% in May

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 45,302 shares, a growth of 63.0% from the April 30th total of 27,795 shares. Based on an average trading volume of 37,277 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.6% of the shares of the stock are short sold.

NeuroOne Medical Technologies Price Performance

NeuroOne Medical Technologies stock traded up $0.05 during midday trading on Thursday, reaching $3.52. The stock had a trading volume of 5,841 shares, compared to its average volume of 42,696. The firm’s fifty day simple moving average is $4.34 and its two-hundred day simple moving average is $4.49. NeuroOne Medical Technologies has a twelve month low of $3.27 and a twelve month high of $6.96. The firm has a market cap of $30.34 million, a price-to-earnings ratio of -4.14 and a beta of 0.51.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative return on equity of 98.33% and a negative net margin of 68.35%.The firm had revenue of $2.39 million during the quarter, compared to analyst estimates of $2.58 million. As a group, sell-side analysts predict that NeuroOne Medical Technologies will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NMTC. Weiss Ratings lowered shares of NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. JonesTrading assumed coverage on shares of NeuroOne Medical Technologies in a research note on Monday, March 2nd. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Research lowered shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Wall Street Zen upgraded shares of NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. Finally, LADENBURG THALM/SH SH lifted their price target on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.67.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMTC. Vanguard Group Inc. boosted its stake in shares of NeuroOne Medical Technologies by 31.2% during the 3rd 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 during the period. Essex Investment Management Co. LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 4th quarter valued at $143,000. Virtu Financial LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 3rd quarter valued at $88,000. Goldman Sachs Group Inc. acquired a new stake in shares of NeuroOne Medical Technologies in the 1st quarter valued at $84,000. Finally, XTX Topco Ltd acquired a new stake in shares of NeuroOne Medical Technologies in the 2nd quarter valued at $51,000. Institutional investors and hedge funds 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.