NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Significant Growth in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 119,622 shares, a growth of 36.8% from the March 15th total of 87,465 shares. Based on an average daily trading volume, of 116,216 shares, the short-interest ratio is presently 1.0 days. Currently, 0.3% of the company’s stock are sold short.

Insider Transactions at NeuroOne Medical Technologies

In other NeuroOne Medical Technologies news, insider David J. Wambeke bought 166,666 shares of NeuroOne Medical Technologies stock in a transaction that occurred on Sunday, March 1st. The shares were bought at an average cost of $4.02 per share, with a total value of $669,997.32. Following the transaction, the insider directly owned 166,666 shares of the company’s stock, valued at approximately $669,997.32. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 2,438 shares of company stock worth $11,702. Corporate insiders own 11.80% of the company’s stock.

Institutional Trading of NeuroOne Medical Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in NeuroOne Medical Technologies during the fourth quarter worth about $143,000. Renaissance Technologies LLC grew its holdings in NeuroOne Medical Technologies by 10.2% during the fourth quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after acquiring an additional 70,428 shares during the period. Virtu Financial LLC acquired a new stake in NeuroOne Medical Technologies during the third quarter worth about $88,000. Vanguard Group Inc. grew its holdings in NeuroOne Medical Technologies by 31.2% during the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after acquiring an additional 375,639 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in NeuroOne Medical Technologies during the first quarter worth about $84,000. 16.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on NMTC shares. Wall Street Zen upgraded NeuroOne Medical Technologies to a “sell” rating in a research note on Saturday, February 21st. JonesTrading started coverage on NeuroOne Medical Technologies in a research note on Monday, March 2nd. They set a “buy” rating and a $9.00 price target on the stock. Finally, Zacks Research downgraded NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.90.

NeuroOne Medical Technologies Price Performance

NeuroOne Medical Technologies stock traded up $0.13 during trading hours on Thursday, hitting $4.57. 90,027 shares of the stock traded hands, compared to its average volume of 196,666. The firm’s 50 day moving average price is $4.47 and its 200-day moving average price is $4.66. The stock has a market capitalization of $230.92 million, a price-to-earnings ratio of -26.88 and a beta of 0.63. NeuroOne Medical Technologies has a 1 year low of $3.21 and a 1 year high of $6.96.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.06. The business had revenue of $2.89 million for the quarter, compared to the consensus estimate of $2.47 million. NeuroOne Medical Technologies had a negative return on equity of 119.92% and a negative net margin of 78.34%.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.