Archon Capital Management LLC, a Seattle-based investment firm, has recently increased its holdings in Neuronetics Inc (STIM, Financial). This article will delve into the details of the transaction, provide an overview of Archon Capital Management LLC and Neuronetics Inc, and discuss the potential implications of this investment move.
Details of the Transaction
On August 22, 2023, Archon Capital Management LLC added 428,949 shares of Neuronetics Inc to its portfolio at a trade price of $1.63 per share. This transaction increased the firm's total holdings in Neuronetics Inc to 2,877,706 shares, representing 9.97% of the company's outstanding shares. The addition of these shares had a 0.15% impact on Archon Capital Management's portfolio and increased its position in Neuronetics Inc to 0.97%.
Profile of Archon Capital Management LLC
Archon Capital Management LLC is an investment firm located at 1301 5th Avenue, Seattle, WA 98101. The firm manages a portfolio of 36 stocks, with a total equity of $481 million. Its top holdings include Apyx Medical Corp (APYX, Financial), Accuray Inc (ARAY, Financial), EZCORP Inc (EZPW, Financial), Red Robin Gourmet Burgers Inc (RRGB, Financial), and New Relic Inc (NEWR, Financial). The firm's primary investment sectors are Technology and Healthcare.
Overview of Neuronetics Inc
Neuronetics Inc is a commercial-stage medical technology company based in the USA. The company focuses on designing, developing, and marketing products that improve the quality of life for patients suffering from psychiatric disorders. Its flagship product, the NeuroStar Advanced Therapy System, uses transcranial magnetic stimulation to stimulate specific areas of the brain associated with mood. As of August 23, 2023, the company has a market capitalization of $47.064 million and a stock price of $1.63. The company's GF Score is 54/100, indicating poor future performance potential.
First Eagle Investment (Trades, Portfolio) Management, LLC: The Largest Guru Holder of Neuronetics Inc
First Eagle Investment (Trades, Portfolio) Management, LLC is the guru with the most shares in Neuronetics Inc. The exact share percentage is not available at the moment, but it's clear that First Eagle Investment (Trades, Portfolio) Management, LLC has a significant influence on the stock.
Other Gurus Holding Neuronetics Inc
Other notable gurus holding shares in Neuronetics Inc include Mario Gabelli (Trades, Portfolio). Their investment decisions could potentially influence the stock's performance.
Conclusion
In conclusion, Archon Capital Management LLC's recent addition of Neuronetics Inc shares to its portfolio could have significant implications for both the firm and the company. The transaction increases Archon Capital Management's influence over Neuronetics Inc and could potentially impact the company's stock performance. However, given Neuronetics Inc's current Profitability Rank of 1/10 and Growth Rank of 2/10, investors should exercise caution. All data and rankings are accurate as of August 23, 2023.
