Myomo (NYSEAMERICAN:MYO) Director Milton Mayo Morris Sells 15,000 Shares

Myomo, Inc. (NYSEAMERICAN:MYO) Director Milton Mayo Morris sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $1.41, for a total value of $21,150.00. Following the completion of the transaction, the director owned 208,391 shares of the company’s stock, valued at $293,831.31. This trade represents a 6.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Myomo Stock Performance

Myomo stock traded up $0.04 during trading hours on Friday, hitting $1.44. 378,123 shares of the stock traded hands, compared to its average volume of 601,924. 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’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.02. The stock has a market capitalization of $57.04 million, a price-to-earnings ratio of -4.24 and a beta of 1.50. Myomo, Inc. has a 1 year low of $0.60 and a 1 year high of $1.89.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings data 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 firm had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $10.35 million. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%. As a group, equities analysts expect that Myomo, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted their price objective on shares of Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $10.00.

Institutional Investors Weigh In On Myomo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP raised its stake in shares of Myomo by 62.8% during the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after buying an additional 11,614 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Myomo by 93.6% in the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock valued at $27,000 after buying an additional 14,705 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Myomo in the first quarter worth about $75,000. Invesco Ltd. purchased a new stake in shares of Myomo in the second quarter worth about $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Myomo during the second quarter worth about $38,000. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Company Profile

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.