The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Neuronetics Inc. shares valued at $3,808 were purchased by CANNELL CAPITAL LLC on Jun 17. At $3.37 per share, CANNELL CAPITAL LLC acquired 1,130 shares. The insider’s holdings grew to 3,463,846 shares worth approximately $12.19 million following the completion of this transaction.
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Also, CANNELL CAPITAL LLC purchased 2,576 shares, netting a total of over 7,960 in proceeds. Following the buying of shares at $3.09 each, the insider now holds 3,462,716 shares.
Before that, CANNELL CAPITAL LLC had added 1,364 shares to its account. In a trade valued at $4,869, the 10% Owner bought Neuronetics Inc. shares for $3.57 each. Upon closing the transaction, the insider’s holdings increased to 1,364 shares, worth approximately $12.18 million.
As published in a research note from William Blair on October 13, 2021, Neuronetics Inc. [STIM] has been rated down from an Outperform to a Mkt perform. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of January 22, 2021, William Blair has increased its “Mkt perform” rating to a “an Outperform” for STIM. Earlier on February 06, 2020, BTIG Research initiated its rating. Their recommendation was “a Buy” for STIM stock.
Analyzing STIM’s Price Performance
On Wednesday, Neuronetics Inc. [NASDAQ: STIM] rose 5.07% to $3.52. The stock’s lowest price that day was $3.26, but it reached a high of $3.74 in the same session. During the last five days, there has been a drop of approximately -1.68%. Over the course of the year, Neuronetics Inc. shares have dropped approximately -21.08%. Shares of the company reached a 52-week high of $4.64 on 01/03/22 and a 52-week low of $1.98 on 05/10/22. A 50-day SMA is recorded $2.81, while a 200-day SMA reached $4.01. Nevertheless, trading volume fell to 0.2 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Neuronetics Inc. (STIM)
According to the 24-hour chart, there is a support level at 3.27, which, if violated, would cause prices to drop to 3.03. In the upper region, resistance lies at 3.75. The next price resistance is at 3.99. RSI (Relative Strength Index) is 60.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 27.12%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Neuronetics Inc. (STIM)?
According to Cannell Capital LLC filings, the company currently owns 3,458,776 shares, which is about 12.92% of the total STIM shares outstanding. The investor’s shares have appreciated by 708,423 from its previous 13-F filing of 2750353.0 shares. With the completion of the sale, Schroder Investment Management No’s stake is now worth $4,856,388. Archon Capital Management LLC reduced a -2.88% interest valued at $4.83 million while BlackRock Fund Advisors sold a -17,363 stake. A total of -98,526 shares of Neuronetics Inc. were sold by The Vanguard Group, Inc. during the quarter, and -463,700 were sold by Parian Global Management LP. In its current portfolio, Nantahala Capital Management LLC holds 880,155 shares valued at $2.36 million.
In terms of Neuronetics Inc. share price expectations, FactSet research, analysts set an average price target of $9.67 in the next 12 months, up nearly 168.66% from the previous closing price of $3.35. Analysts anticipate Neuronetics Inc. stock to reach $12.00 by 2022, with the lowest price target being $8.00. In spite of this, 5 analysts ranked Neuronetics Inc. stock as an Overweight at the end of 2022.