Insider Buying: Neuronetics, Inc. (NASDAQ:STIM) Director Purchases 100,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) Director Robert Cascella acquired 100,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $0.75 per share, for a total transaction of $75,000.00. Following the completion of the acquisition, the director now owns 453,098 shares in the company, valued at approximately $339,823.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Robert Cascella also recently made the following trade(s):

• On Monday, August 19th, Robert Cascella bought 4,000 shares of Neuronetics stock. The stock was purchased at an average price of $1.14 per share, for a total transaction of $4,560.00.
• On Friday, August 16th, Robert Cascella purchased 35,000 shares of Neuronetics stock. The shares were purchased at an average price of $1.06 per share, with a total value of $37,100.00.
• On Wednesday, August 14th, Robert Cascella acquired 35,000 shares of Neuronetics stock. The stock was purchased at an average price of $0.79 per share, for a total transaction of $27,650.00.

Neuronetics Stock Performance

Shares of Neuronetics stock opened at $0.73 on Monday. The firm has a market cap of $22.15 million, a PE ratio of -0.76 and a beta of 2.27. The company has a quick ratio of 2.37, a current ratio of 2.58 and a debt-to-equity ratio of 2.38. Neuronetics, Inc. has a 52 week low of $0.66 and a 52 week high of $5.07. The business’s fifty day simple moving average is $1.37 and its 200-day simple moving average is $2.48.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Monday, August 12th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). Neuronetics had a negative net margin of 45.06% and a negative return on equity of 109.00%. The company had revenue of $16.45 million during the quarter, compared to analyst estimates of $18.76 million. During the same period in the previous year, the company earned ($0.17) EPS. Equities analysts forecast that Neuronetics, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STIM has been the subject of several recent research reports. Canaccord Genuity Group cut their price target on Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. JMP Securities decreased their target price on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 14th. Finally, William Blair restated a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th.

Institutional Trading of Neuronetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Worth Venture Partners LLC purchased a new position in shares of Neuronetics during the fourth quarter worth $30,000. Legato Capital Management LLC purchased a new position in Neuronetics during the 2nd quarter valued at about $44,000. SG Americas Securities LLC purchased a new position in Neuronetics during the 1st quarter valued at about $62,000. Gabelli Funds LLC boosted its holdings in Neuronetics by 88.2% during the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock valued at $86,000 after acquiring an additional 22,500 shares during the period. Finally, FourWorld Capital Management LLC acquired a new position in Neuronetics in the 1st quarter valued at about $171,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Neuronetics

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.