Stock Traders Purchase Large Volume of Call Options on Neuronetics (NASDAQ:STIM)

Neuronetics, Inc. (NASDAQ:STIM) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 4,909 call options on the stock. This is an increase of approximately 3,432% compared to the average daily volume of 139 call options.

NASDAQ STIM traded up $3.98 during trading hours on Tuesday, reaching $14.13. The stock had a trading volume of 5,403,022 shares, compared to its average volume of 529,271. Neuronetics has a 52-week low of $1.70 and a 52-week high of $22.43. The stock has a fifty day moving average of $12.23 and a 200 day moving average of $11.90. The stock has a market cap of $363.62 million, a P/E ratio of -8.41 and a beta of 3.05.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Monday, March 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.05. The firm had revenue of $15.58 million during the quarter, compared to analysts’ expectations of $15.21 million. Neuronetics had a negative net margin of 61.44% and a negative return on equity of 88.76%. On average, equities analysts forecast that Neuronetics will post -1.55 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Neuronetics from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 2nd. JMP Securities upped their price target on Neuronetics from $15.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. BTIG Research raised their price objective on Neuronetics from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, January 21st. William Blair upgraded Neuronetics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 22nd. Finally, Zacks Investment Research upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Tuesday, January 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.25.

In other Neuronetics news, CFO Stephen Furlong sold 6,521 shares of the company’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $14.64, for a total value of $95,467.44. Following the completion of the sale, the chief financial officer now directly owns 289,971 shares in the company, valued at approximately $4,245,175.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory Harper sold 5,524 shares of the stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $14.65, for a total value of $80,926.60. Following the transaction, the vice president now directly owns 162,554 shares in the company, valued at approximately $2,381,416.10. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Neuronetics by 14.9% in the 4th quarter. Wells Fargo & Company MN now owns 9,295 shares of the company’s stock worth $103,000 after purchasing an additional 1,206 shares in the last quarter. Blair William & Co. IL boosted its holdings in Neuronetics by 1.2% during the fourth quarter. Blair William & Co. IL now owns 145,335 shares of the company’s stock worth $1,615,000 after buying an additional 1,667 shares in the last quarter. Morgan Stanley grew its position in Neuronetics by 13.5% during the third quarter. Morgan Stanley now owns 64,854 shares of the company’s stock valued at $315,000 after buying an additional 7,723 shares during the period. Bank of New York Mellon Corp increased its holdings in Neuronetics by 14.2% in the fourth quarter. Bank of New York Mellon Corp now owns 76,274 shares of the company’s stock valued at $847,000 after buying an additional 9,505 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Neuronetics by 87.7% in the fourth quarter. LPL Financial LLC now owns 21,400 shares of the company’s stock worth $238,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 63.80% of the company’s stock.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric 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.

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