Insider Selling: Myomo (NYSEAMERICAN:MYO) Insider Sells $19,669.76 in Stock

Key Points

• Myomo insider Harry Kovelman sold 15,488 shares at an average price of $1.27, worth $19,669.76, reducing his holdings by 14.65% to 90,245 shares. He also sold 17,250 shares in August.
• Myomo’s stock remained at $1.30, with a $51.49 million market capitalization. The company reported quarterly revenue of $11.70 million and an adjusted loss of $0.09 per share, slightly better than analysts’ expectations.
• Analysts maintain a Buy rating with an average price target of $10.00, while institutional ownership stands at 44.99%; Prescott Group recently acquired approximately 185,433 shares.

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 15,488 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $1.27, for a total value of $19,669.76. Following the completion of the sale, the insider owned 90,245 shares in the company, valued at approximately $114,611.15. This represents a 14.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Harry Kovelman also recently made the following trade(s):

• On Thursday, August 20th, Harry Kovelman sold 17,250 shares of Myomo stock. The stock was sold at an average price of $1.73, for a total value of $29,842.50.

Myomo Price Performance

MYO remained flat at $1.30 during trading on Monday. The company's stock had a trading volume of 292,957 shares, compared to its average volume of 593,168. The company has a debt-to-equity ratio of 1.98, a current ratio of 2.31 and a quick ratio of 2.01. The firm has a market capitalization of $51.49 million, a P/E ratio of -3.82 and a beta of 1.50. Myomo, Inc. has a one year low of $0.60 and a one year high of $1.89. The stock's 50-day moving average price is $1.29 and its 200 day moving average price is $1.04.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. The business had revenue of $11.70 million during the quarter, compared to the consensus estimate of $10.35 million. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%. On average, analysts anticipate that Myomo, Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets raised their price target on shares of Myomo from $9.50 to $10.00 and gave the company a "buy" rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $10.00.

Institutional Investors Weigh In On Myomo

An institutional investor recently bought a new stake in Myomo stock. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 185,433 shares of the company's stock, valued at approximately $169,000. Prescott Group Capital Management L.L.C. owned approximately 0.48% of Myomo at the end of the most recent quarter. 44.99% of the stock is owned by institutional investors.

About Myomo

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company's flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users' own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.