Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Update

Myomo, Inc. (NYSEAMERICAN:MYO) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 860,100 shares, a drop of 15.7% from the October 31st total of 1,020,000 shares. Based on an average daily volume of 160,300 shares, the short-interest ratio is currently 5.4 days. Approximately 3.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Ascendiant Capital Markets boosted their price target on shares of Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $7.50 target price on shares of Myomo in a research note on Wednesday, November 13th.

Myomo Stock Performance

Myomo stock opened at $5.62 on Friday. Myomo has a one year low of $2.51 and a one year high of $5.66. The firm has a market cap of $170.01 million, a price-to-earnings ratio of -24.43 and a beta of 1.56.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $9.21 million during the quarter, compared to the consensus estimate of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. On average, sell-side analysts predict that Myomo will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Myomo

Several institutional investors and hedge funds have recently added to or reduced their stakes in MYO. Rosalind Advisors Inc. increased its holdings in Myomo by 13.4% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock valued at $12,116,000 after buying an additional 356,392 shares during the period. Herr Investment Group LLC lifted its holdings in Myomo by 72.9% during the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after purchasing an additional 1,200,244 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Myomo by 40.2% in the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock valued at $3,606,000 after acquiring an additional 257,749 shares during the last quarter. Bailard Inc. acquired a new position in shares of Myomo in the 2nd quarter worth approximately $109,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Myomo by 60.8% during the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock worth $414,000 after purchasing an additional 39,085 shares during the last quarter. 44.99% of the stock is currently 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.