Myomo (NYSEAMERICAN:MYO) Rating Reiterated by HC Wainwright

Myomo (NYSEAMERICAN:MYO - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $6.50 price objective on the stock. HC Wainwright's price target would suggest a potential upside of 82.58% from the company's current price.

Myomo Stock Down 9.4 %

Shares of MYO stock traded down $0.37 during trading hours on Thursday, reaching $3.56. 376,186 shares of the company's stock were exchanged, compared to its average volume of 360,183. The firm has a market cap of $102.53 million, a PE ratio of -13.04 and a beta of 1.51. Myomo has a fifty-two week low of $0.37 and a fifty-two week high of $5.58.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The business had revenue of $4.76 million for the quarter, compared to the consensus estimate of $4.70 million. Myomo had a negative return on equity of 84.72% and a negative net margin of 42.34%. As a group, equities analysts predict that Myomo will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas F. Kirk acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the director now owns 186,499 shares in the company, valued at $652,746.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Myomo

Several large investors have recently bought and sold shares of MYO. Tower Research Capital LLC TRC raised its holdings in Myomo by 178.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,257 shares of the company's stock valued at $46,000 after acquiring an additional 5,932 shares during the period. Summit Financial Strategies Inc. purchased a new position in shares of Myomo in the fourth quarter worth $50,000. Accurate Wealth Management LLC boosted its stake in shares of Myomo by 21.8% in the fourth quarter. Accurate Wealth Management LLC now owns 21,565 shares of the company's stock worth $108,000 after buying an additional 3,864 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Myomo in the 4th quarter worth $125,000. Finally, PFG Advisors acquired a new position in shares of Myomo during the 4th quarter worth approximately $134,000. 44.99% of the stock is owned by institutional investors.

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.