Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Sells 103,959 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 103,959 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $2.06, for a total value of $214,155.54. Following the transaction, the insider owned 10,266,225 shares in the company, valued at approximately $21,148,423.50. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total value of $599,421.56.
• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The shares were sold at an average price of $1.15, for a total value of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20.
• On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The shares were sold at an average price of $1.61, for a total value of $139,678.77.
• On Monday, November 9th, Jorey Chernett bought 40,000 shares of Neuronetics stock. The shares were bought at an average price of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett purchased 18,000 shares of Neuronetics stock. The shares were bought at an average cost of $2.27 per share, for a total transaction of $40,860.00.

Neuronetics Stock Down 2.8%

NASDAQ STIM traded down $0.04 on Friday, reaching $1.39. The company had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The firm has a market capitalization of $108.04 million, a PE ratio of -4.21 and a beta of 1.36. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $3.44. The firm has a 50-day moving average of $2.35 and a 200-day moving average of $1.87. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.01 and a quick ratio of 1.82.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. The company had revenue of $41.96 million during the quarter, compared to the consensus estimate of $40.42 million. Neuronetics had a negative net margin of 14.45% and a negative return on equity of 102.23%. On average, equities research analysts anticipate that Neuronetics, Inc. will post -0.30 EPS for the current fiscal year.

Analysts Set New Price Targets

STIM has been the topic of a number of recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. B. Riley Financial raised their target price on Neuronetics from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 6th. BTIG Research restated a “buy” rating and set a $6.00 target price on shares of Neuronetics in a research note on Thursday, September 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors have recently made changes to their positions in STIM. Empowered Funds LLC acquired a new position in shares of Neuronetics in the 3rd quarter valued at approximately $211,000. HighTower Advisors LLC grew its position in shares of Neuronetics by 95.4% during the third quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock worth $2,578,000 after buying an additional 537,761 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Neuronetics during the third quarter worth approximately $176,000. T3 Companies LLC acquired a new stake in shares of Neuronetics during the third quarter worth approximately $88,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Neuronetics in the second quarter worth $74,000. 53.59% of the stock is owned by institutional investors and hedge funds.

About Neuronetics

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.