Neuronetics (NASDAQ:STIM) Stock Rating Reaffirmed by William Blair

Neuronetics (NASDAQ:STIM)‘s stock had its “market perform” rating reissued by investment analysts at William Blair in a note issued to investors on Monday, Benzinga reports.

Neuronetics Stock Performance

STIM stock traded down $1.04 during midday trading on Monday, hitting $0.75. 7,315,935 shares of the stock traded hands, compared to its average volume of 212,568. Neuronetics has a 1-year low of $0.74 and a 1-year high of $5.07. The company has a debt-to-equity ratio of 2.15, a current ratio of 5.65 and a quick ratio of 5.18. The stock’s fifty day simple moving average is $1.87 and its 200-day simple moving average is $2.92. The firm has a market cap of $22.35 million, a P/E ratio of -0.78 and a beta of 2.32.

Insider Activity at Neuronetics

In related news, Director Robert Cascella bought 50,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was acquired at an average price of $2.05 per share, with a total value of $102,500.00. Following the completion of the purchase, the director now directly owns 244,098 shares of the company’s stock, valued at $500,400.90. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Keith J. Sullivan sold 24,162 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $1.90, for a total transaction of $45,907.80. Following the transaction, the chief executive officer now owns 1,324,354 shares of the company’s stock, valued at $2,516,272.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Cascella acquired 50,000 shares of Neuronetics stock in a transaction on Thursday, June 6th. The shares were bought at an average cost of $2.05 per share, with a total value of $102,500.00. Following the completion of the purchase, the director now owns 244,098 shares in the company, valued at $500,400.90. The disclosure for this purchase can be found here. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Washington CORP boosted its position in shares of Neuronetics by 88.8% in the 2nd quarter. First Washington CORP now owns 1,274,540 shares of the company’s stock worth $2,294,000 after buying an additional 599,455 shares in the last quarter. Millrace Asset Group Inc. grew its position in shares of Neuronetics by 205.1% in the fourth quarter. Millrace Asset Group Inc. now owns 725,369 shares of the company’s stock valued at $2,104,000 after purchasing an additional 487,591 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Neuronetics by 33.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company’s stock worth $1,870,000 after purchasing an additional 260,000 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Neuronetics during the 4th quarter worth approximately $545,000. Finally, Renaissance Technologies LLC raised its position in shares of Neuronetics by 124.5% during the 2nd quarter. Renaissance Technologies LLC now owns 322,200 shares of the company’s stock worth $580,000 after purchasing an additional 178,700 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics Company Profile

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.