Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc acquired 4,680 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were bought at an average cost of $2.44 per share, for a total transaction of $11,419.20. Following the completion of the acquisition, the insider now directly owns 3,432,186 shares of the company’s stock, valued at approximately $8,374,533.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cannell Capital Llc also recently made the following trade(s):

• On Monday, May 23rd, Cannell Capital Llc acquired 26,612 shares of Neuronetics stock. The shares were bought at an average cost of $2.46 per share, for a total transaction of $65,465.52.
• On Friday, May 20th, Cannell Capital Llc bought 15,369 shares of Neuronetics stock. The stock was acquired at an average cost of $2.41 per share, for a total transaction of $37,039.29.
• On Wednesday, May 18th, Cannell Capital Llc bought 47,144 shares of Neuronetics stock. The stock was acquired at an average cost of $2.33 per share, for a total transaction of $109,845.52.
• On Wednesday, May 11th, Cannell Capital Llc bought 106,455 shares of Neuronetics stock. The stock was acquired at an average cost of $2.13 per share, for a total transaction of $226,749.15.
• On Monday, May 9th, Cannell Capital Llc bought 7,094 shares of Neuronetics stock. The stock was acquired at an average cost of $2.31 per share, for a total transaction of $16,387.14.
• On Friday, May 6th, Cannell Capital Llc bought 10,000 shares of Neuronetics stock. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $24,200.00.
• On Wednesday, May 4th, Cannell Capital Llc bought 20,000 shares of Neuronetics stock. The stock was acquired at an average cost of $2.47 per share, for a total transaction of $49,400.00.
• On Monday, May 2nd, Cannell Capital Llc acquired 5,429 shares of Neuronetics stock. The shares were purchased at an average cost of $2.48 per share, for a total transaction of $13,463.92.
• On Monday, April 25th, Cannell Capital Llc acquired 1,704 shares of Neuronetics stock. The shares were purchased at an average cost of $2.79 per share, for a total transaction of $4,754.16.
• On Friday, April 22nd, Cannell Capital Llc acquired 1,555 shares of Neuronetics stock. The shares were purchased at an average cost of $2.85 per share, for a total transaction of $4,431.75.

Shares of Neuronetics stock traded up $0.05 on Wednesday, hitting $2.41. 88,946 shares of the company’s stock traded hands, compared to its average volume of 247,059. The firm’s 50-day moving average price is $2.82 and its two-hundred day moving average price is $3.49. The stock has a market capitalization of $64.17 million, a PE ratio of -1.85 and a beta of 2.31. Neuronetics, Inc. has a one year low of $1.98 and a one year high of $17.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 7.82 and a quick ratio of 7.25.

Neuronetics (NASDAQ:STIM – Get Rating) last issued its earnings results on Thursday, May 12th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Neuronetics had a negative net margin of 59.70% and a negative return on equity of 39.03%. During the same quarter in the prior year, the firm posted ($0.31) EPS. On average, analysts forecast that Neuronetics, Inc. will post -1.71 earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded Neuronetics from a “buy” rating to a “hold” rating in a report on Saturday, March 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $10.06.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cannell Capital LLC increased its position in shares of Neuronetics by 4.5% in the 1st quarter. Cannell Capital LLC now owns 2,750,353 shares of the company’s stock valued at $8,334,000 after buying an additional 118,131 shares in the last quarter. Archon Capital Management LLC increased its holdings in Neuronetics by 17.7% during the 4th quarter. Archon Capital Management LLC now owns 1,854,415 shares of the company’s stock worth $8,271,000 after purchasing an additional 279,220 shares in the last quarter. Schroder Investment Management Group increased its holdings in Neuronetics by 4.5% during the 4th quarter. Schroder Investment Management Group now owns 1,842,924 shares of the company’s stock worth $8,219,000 after purchasing an additional 79,961 shares in the last quarter. BlackRock Inc. increased its holdings in Neuronetics by 1.4% during the 4th quarter. BlackRock Inc. now owns 1,594,473 shares of the company’s stock worth $7,112,000 after purchasing an additional 22,773 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its holdings in Neuronetics by 20.6% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 880,203 shares of the company’s stock worth $5,774,000 after purchasing an additional 150,212 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

About Neuronetics (Get Rating)

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.

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