Neuronetics, Inc. (NASDAQ:STIM) Sees Significant Increase in Short Interest

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,990,000 shares, a growth of 24.4% from the February 13th total of 1,600,000 shares. Currently, 7.3% of the company's shares are short sold. Based on an average daily trading volume, of 1,330,000 shares, the short-interest ratio is presently 1.5 days.Analyst Ratings ChangesSeparately, Canaccord Genuity Group upped their price objective on Neuronetics from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th.Check Out Our Latest Stock Analysis on NeuroneticsNeuronetics Stock PerformanceShares of Neuronetics stock opened at $4.52 on Monday. The stock's fifty day moving average is $3.50 and its two-hundred day moving average is $1.88. The company has a market capitalization of $137.17 million, a PE ratio of -3.67 and a beta of 2.07. The company has a quick ratio of 2.87, a current ratio of 3.16 and a debt-to-equity ratio of 4.90. Neuronetics has a 52 week low of $0.52 and a 52 week high of $5.92. Insider Activity at NeuroneticsIn related news, EVP William Andrew Macan sold 12,175 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total transaction of $46,630.25. Following the sale, the executive vice president now owns 388,647 shares in the company, valued at approximately $1,488,518.01. This represents a 3.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith J. Sullivan sold 40,992 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $3.28, for a total value of $134,453.76. Following the sale, the chief executive officer now owns 1,283,362 shares in the company, valued at $4,209,427.36. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,369 shares of company stock worth $358,929. Company insiders own 9.80% of the company's stock. Hedge Funds Weigh In On NeuroneticsSeveral hedge funds have recently bought and sold shares of the business. Tradewinds LLC. bought a new position in shares of Neuronetics during the 4th quarter worth $32,000. XTX Topco Ltd bought a new position in shares of Neuronetics during the 4th quarter worth $49,000. Wealthedge Investment Advisors LLC bought a new position in shares of Neuronetics during the 4th quarter worth $57,000. David J Yvars Group grew its position in shares of Neuronetics by 47.1% during the 4th quarter. David J Yvars Group now owns 46,325 shares of the company's stock worth $75,000 after buying an additional 14,825 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Neuronetics by 10,954.1% during the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after buying an additional 54,442 shares in the last quarter. Institutional investors own 53.59% of the company's stock. About Neuronetics (Get Free Report)Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.Read MoreFive stocks we like better than NeuroneticsHow Investors Can Find the Best Cheap Dividend StocksMeta Platforms: Can LLaMA Drive Long-Term Stock Growth?Investing In Automotive Stocks3 Unique and Dominant Consumer Staples ETF PlaysTop Biotech Stocks: Exploring Innovation Opportunities3 Dividend Stocks Offering Higher Yields and Bullish ForecastsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Neuronetics Right Now?Before you consider Neuronetics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Neuronetics wasn't on the list.While Neuronetics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here