GSA Capital Partners LLP Acquires 30,837 Shares of Neuronetics, Inc. (NASDAQ:STIM)

GSA Capital Partners LLP raised its stake in shares of Neuronetics, Inc. (NASDAQ:STIM) by 64.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 78,642 shares of the company’s stock after acquiring an additional 30,837 shares during the period. GSA Capital Partners LLP’s holdings in Neuronetics were worth $60,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STIM. SG Americas Securities LLC bought a new stake in shares of Neuronetics in the first quarter worth approximately $62,000. Legato Capital Management LLC purchased a new stake in Neuronetics in the second quarter worth approximately $44,000. Gabelli Funds LLC boosted its holdings in Neuronetics by 88.2% in the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after purchasing an additional 22,500 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Neuronetics by 97.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock worth $173,000 after purchasing an additional 47,228 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Neuronetics by 63.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 135,746 shares of the company’s stock valued at $244,000 after buying an additional 52,450 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JMP Securities dropped their price target on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th. William Blair reissued a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th. Finally, Canaccord Genuity Group cut their price target on Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th.

Neuronetics Stock Up 9.6 %

STIM opened at $0.97 on Tuesday. Neuronetics, Inc. has a 1-year low of $0.52 and a 1-year high of $5.07. The firm’s 50 day simple moving average is $0.90 and its two-hundred day simple moving average is $1.41. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. The company has a market capitalization of $29.44 million, a PE ratio of -0.79 and a beta of 2.21.

Insider Buying and Selling

In related news, Director Robert Cascella purchased 100,000 shares of Neuronetics stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $0.75 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 453,098 shares in the company, valued at $339,823.50. This represents a 28.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have purchased 137,776 shares of company stock valued at $105,860. 9.80% of the stock is owned by company insiders.

Neuronetics 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.