Craig Hallum Lowers Myomo (NYSEAMERICAN:MYO) Price Target to $8.00

Myomo (NYSEAMERICAN:MYO - Get Free Report) had its target price lowered by Craig Hallum from $10.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Craig Hallum's target price suggests a potential upside of 259.55% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Alliance Global Partners restated a "buy" rating on shares of Myomo in a report on Tuesday, March 11th. Ascendiant Capital Markets raised their target price on shares of Myomo from $11.00 to $11.50 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Finally, HC Wainwright boosted their price target on Myomo from $7.50 to $9.50 and gave the company a "buy" rating in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.13.

Myomo Stock Performance

Shares of NYSEAMERICAN:MYO traded down $0.20 during trading on Monday, hitting $2.23. The company had a trading volume of 630,118 shares, compared to its average volume of 490,796. The company has a market cap of $80.06 million, a PE ratio of -14.83 and a beta of 1.49. The stock has a fifty day moving average price of $3.60. Myomo has a one year low of $2.20 and a one year high of $7.17.

Insiders Place Their Bets

In other news, CEO Paul R. Gudonis acquired 30,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $3.22 per share, for a total transaction of $96,600.00. Following the acquisition, the chief executive officer now owns 1,051,671 shares of the company's stock, valued at approximately $3,386,380.62. This trade represents a 2.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas F. Kirk acquired 50,000 shares of Myomo stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $3.35 per share, for a total transaction of $167,500.00. Following the transaction, the director now owns 305,933 shares of the company's stock, valued at $1,024,875.55. This represents a 19.54% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 118,767 shares of company stock worth $390,093. Company insiders own 4.54% of the company's stock.

Institutional Trading of Myomo

Institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in Myomo during the 4th quarter worth approximately $1,288,000. Perkins Capital Management Inc. acquired a new position in Myomo during the 4th quarter worth $483,000. JPMorgan Chase & Co. purchased a new stake in Myomo during the 4th quarter worth about $581,000. AIGH Capital Management LLC increased its holdings in Myomo by 21.7% during the 4th quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company's stock worth $21,777,000 after purchasing an additional 602,719 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Myomo in the 4th quarter valued at about $229,000. Institutional investors and hedge funds own 44.99% of the company's stock.

About Myomo

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient's weak or paralyzed arm to enable and improve functional activities of daily living.

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