Craig Hallum Initiates Coverage on Myomo (NYSEAMERICAN:MYO)

Craig Hallum began coverage on shares of Myomo (NYSEAMERICAN:MYO) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the company. Lake Street Capital increased their price target on Myomo from $7.00 to $7.50 and gave the stock a buy rating in a report on Tuesday, July 9th. HC Wainwright reiterated a buy rating and issued a $6.50 target price on shares of Myomo in a report on Thursday, May 9th.

Myomo Trading Down 5.0 %

Shares of MYO stock opened at $4.20 on Wednesday. Myomo has a one year low of $0.50 and a one year high of $5.64. The company has a market capitalization of $121.04 million, a P/E ratio of -15.55 and a beta of 1.56.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $3.75 million for the quarter. Myomo had a negative return on equity of 94.02% and a negative net margin of 47.77%. As a group, sell-side analysts anticipate that Myomo will post -0.18 EPS for the current fiscal year.

Insider Activity at Myomo

In other Myomo news, Director Thomas F. Kirk bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of $3.50 per share, with a total value of $175,000.00. Following the transaction, the director now directly owns 236,499 shares in the company, valued at approximately $827,746.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Myomo

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Myomo by 178.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,257 shares of the company’s stock worth $46,000 after acquiring an additional 5,932 shares during the period. Summit Financial Strategies Inc. bought a new position in shares of Myomo during the 4th quarter worth $50,000. Stratos Wealth Partners LTD. bought a new position in shares of Myomo during the 4th quarter worth $125,000. PFG Advisors bought a new position in shares of Myomo during the 4th quarter worth $134,000. Finally, Bailard Inc. bought a new position in shares of Myomo during the 2nd quarter worth $109,000. 44.99% of the stock is owned by hedge funds and other 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.