Myomo (NYSEAMERICAN:MYO) Coverage Initiated by Analysts at Lake Street Capital

Stock analysts at Lake Street Capital assumed coverage on shares of Myomo (NYSEAMERICAN:MYOGet Free Report) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. Lake Street Capital’s price objective suggests a potential upside of 80.88% from the company’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.50 target price on shares of Myomo in a research report on Thursday, May 9th.

Read Our Latest Research Report on MYO

Myomo Trading Up 3.2 %

Shares of NYSEAMERICAN MYO opened at $3.87 on Monday. Myomo has a 52 week low of $0.43 and a 52 week high of $5.58. The firm has a market capitalization of $111.53 million, a P/E ratio of -14.33 and a beta of 1.51.

Myomo (NYSEAMERICAN:MYOGet Free Report) last released its earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Myomo had a negative net margin of 47.77% and a negative return on equity of 94.02%. The business had revenue of $4.76 million during the quarter, compared to the consensus estimate of $4.70 million. As a group, equities analysts anticipate that Myomo will post -0.18 EPS for the current year.

Insider Transactions at Myomo

In other news, Director Thomas F. Kirk purchased 50,000 shares of Myomo stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the director now owns 186,499 shares in the company, valued at approximately $652,746.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.54% of the company’s stock.

Institutional Trading of Myomo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Worth Venture Partners LLC lifted its stake in shares of Myomo by 24.9% in the third quarter. Worth Venture Partners LLC now owns 1,397,861 shares of the company’s stock worth $1,552,000 after acquiring an additional 278,544 shares during the period. AIGH Capital Management LLC lifted its stake in shares of Myomo by 9.4% in the third quarter. AIGH Capital Management LLC now owns 2,188,883 shares of the company’s stock worth $2,430,000 after acquiring an additional 188,883 shares during the period. PFG Advisors acquired a new position in shares of Myomo in the fourth quarter worth approximately $134,000. Essex Investment Management Co. LLC acquired a new position in shares of Myomo in the third quarter worth approximately $325,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Myomo in the fourth quarter worth approximately $125,000. 44.99% of the stock is currently owned by institutional investors.

Myomo Company Profile

(Get Free Report)

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.

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