Myomo (NYSEAMERICAN:MYO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Myomo (NYSEAMERICAN:MYO) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $7.50 price target on the stock.

Several other analysts also recently issued reports on the stock. Ascendiant Capital Markets boosted their target price on shares of Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum assumed coverage on shares of Myomo in a research report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price target for the company.

Myomo Trading Down 4.8 %

Myomo stock opened at $4.75 on Wednesday. The company has a market capitalization of $143.69 million, a price-to-earnings ratio of -21.00 and a beta of 1.56. Myomo has a 1 year low of $2.25 and a 1 year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. The business had revenue of $9.21 million during the quarter, compared to analyst estimates of $7.95 million. Sell-side analysts predict that Myomo will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Myomo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Herr Investment Group LLC grew its holdings in Myomo by 67.9% in the 1st quarter. Herr Investment Group LLC now owns 1,645,827 shares of the company’s stock valued at $5,382,000 after buying an additional 665,330 shares during the last quarter. Rosalind Advisors Inc. raised its position in shares of Myomo by 8.9% during the second quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company’s stock valued at $8,555,000 after buying an additional 217,259 shares during the last quarter. Accel Wealth Management lifted its stake in shares of Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after buying an additional 2,500 shares during the period. Bailard Inc. acquired a new stake in Myomo during the second quarter worth about $109,000. Finally, AIGH Capital Management LLC increased its stake in Myomo by 4.1% during the second quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after acquiring an additional 115,405 shares during the period. 44.99% of the stock is currently owned by institutional investors and hedge funds.

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.