Neuronetics Stock Rises 7% Despite Wider-Than-Expected Q3 Loss

(RTTNews) - Neuronetics, Inc. (STIM) shares rose 7.22 percent to $2.97 on Tuesday's trading after the company reported a smaller loss for the third quarter than last year.

The company posted a net loss of $9.05 million, or $0.13 per share, compared with a loss of $13.34 million, or $0.44 per share, a year earlier. Analysts had expected a loss of $0.12 per share. Revenue surged 101.3 percent, to $37.3 million from $18.53 million last year.

The stock opened at $2.38 and traded between $2.38 and $3.09 during the session on the Nasdaq. It was last seen at $2.60 compared with a previous close of $2.77. Trading volume stood at about 3 million shares, higher than the average of 1.4 million.

Neuronetics shares have traded between $0.52 and $5.92 over the past 52 weeks.