Manatuck Hill Partners LLC Invests $1.58 Million in Myomo, Inc. (NYSEAMERICAN:MYO)

Manatuck Hill Partners LLC acquired a new stake in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 245,600 shares of the company's stock, valued at approximately $1,582,000. Manatuck Hill Partners LLC owned 0.81% of Myomo at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AIGH Capital Management LLC grew its stake in shares of Myomo by 21.7% during the fourth 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. Portolan Capital Management LLC bought a new stake in shares of Myomo in the 4th quarter valued at about $2,446,000. Thompson Siegel & Walmsley LLC bought a new position in Myomo during the 4th quarter worth approximately $1,288,000. Aristides Capital LLC bought a new stake in Myomo in the fourth quarter valued at approximately $1,288,000. Finally, Renaissance Technologies LLC increased its position in shares of Myomo by 39.5% in the 4th quarter. Renaissance Technologies LLC now owns 199,600 shares of the company's stock valued at $1,285,000 after buying an additional 56,500 shares in the last quarter. Institutional investors own 44.99% of the company's stock.

Insider Transactions at Myomo

In related news, insider Micah Mitchell sold 48,000 shares of Myomo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.16, for a total transaction of $247,680.00. Following the sale, the insider now directly owns 140,572 shares in the company, valued at approximately $725,351.52. This trade represents a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Kirk purchased 7,400 shares of Myomo stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $5.00 per share, with a total value of $37,000.00. Following the transaction, the director now owns 255,933 shares of the company's stock, valued at $1,279,665. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.54% of the stock is owned by insiders.

Myomo Price Performance

Shares of NYSEAMERICAN:MYO traded up $0.05 during mid-day trading on Wednesday, hitting $4.82. The company had a trading volume of 104,704 shares, compared to its average volume of 345,133. Myomo, Inc. has a one year low of $2.76 and a one year high of $7.17. The company has a fifty day moving average of $4.85. The firm has a market capitalization of $145.93 million, a P/E ratio of -20.89 and a beta of 1.68.

Analysts Set New Price Targets

MYO has been the subject of a number of research analyst reports. HC Wainwright upped their target price on shares of Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Ascendiant Capital Markets increased their price objective on Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Craig Hallum boosted their target price on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, Alliance Global Partners restated a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $9.75.

Myomo Company Profile

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.