Short Interest in NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Increases By 219.1%

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 38,703 shares, a growth of 219.1% from the July 15th total of 12,127 shares. Based on an average daily volume of 34,041 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have commented on NMTC. LADENBURG THALM/SH SH lifted their price objective on shares of NeuroOne Medical Technologies from $1.60 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Maxim Group set a $5.00 price objective on shares of NeuroOne Medical Technologies and gave the stock a “buy” rating in a research note on Friday. Finally, Weiss Ratings raised shares of NeuroOne Medical Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Three equities 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 company’s stock. According to data from MarketBeat.com, NeuroOne Medical Technologies presently has an average rating of “Hold” and an average price target of $7.33.

NeuroOne Medical Technologies Stock Up 6.0%

Shares of NMTC stock opened at $1.94 on Friday. NeuroOne Medical Technologies has a 52-week low of $1.42 and a 52-week high of $6.96. The stock has a market cap of $16.88 million, a PE ratio of -2.04 and a beta of 0.61. The business has a 50-day simple moving average of $2.54 and a 200-day simple moving average of $3.79.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its earnings results on Thursday, August 13th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.29. The firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $2.55 million. NeuroOne Medical Technologies had a negative return on equity of 115.61% and a negative net margin of 71.50%. Sell-side analysts anticipate that NeuroOne Medical Technologies will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Christianson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $3.18, for a total value of $31,800.00. Following the sale, the director owned 20,692 shares in the company, valued at $65,800.56. This represents a 32.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeuroOne Medical Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in shares of NeuroOne Medical Technologies during the 1st quarter valued at approximately $84,000. XTX Topco Ltd purchased a new stake in NeuroOne Medical Technologies during the second quarter worth $51,000. Vanguard Group Inc. boosted 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 buying an additional 375,639 shares in the last quarter. Virtu Financial LLC acquired a new stake in NeuroOne Medical Technologies during the third quarter valued at $88,000. Finally, Susquehanna International Group LLP acquired a new stake in NeuroOne Medical Technologies during the third quarter valued at $47,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

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.