Myomo (NYSEAMERICAN:MYO) Stock Price Down 4.8% – Here’s What Happened

Myomo, Inc. (NYSEAMERICAN:MYO) shares dropped 4.8% during mid-day trading on Monday . The stock traded as low as $0.99 and last traded at $1.00. Approximately 842,103 shares traded hands during trading, an increase of 6% from the average daily volume of 795,105 shares. The stock had previously closed at $1.05.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets decreased their price target on Myomo from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $7.67.

Myomo Trading Down 4.8%

The company has a market capitalization of $38.44 million, a P/E ratio of -3.45 and a beta of 1.03. The business has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.46. The company has a current ratio of 2.49, a quick ratio of 2.10 and a debt-to-equity ratio of 0.17.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $10.09 million during the quarter, compared to analysts’ expectations of $9.44 million. Myomo had a negative net margin of 28.86% and a negative return on equity of 61.14%. Analysts anticipate that Myomo, Inc. will post -0.18 EPS for the current year.

Institutional Trading of Myomo

Hedge funds have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. increased its stake in Myomo by 33.0% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company’s stock worth $7,767,000 after purchasing an additional 892,127 shares in the last quarter. AIGH Capital Management LLC boosted its holdings in shares of Myomo by 22.3% in the second quarter. AIGH Capital Management LLC now owns 3,555,742 shares of the company’s stock valued at $7,680,000 after buying an additional 649,053 shares during the period. Geode Capital Management LLC increased its position in shares of Myomo by 160.8% during the second quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock worth $1,446,000 after acquiring an additional 412,631 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Myomo during the third quarter worth $190,000. Finally, Stonepine Capital Management LLC lifted its position in Myomo by 65.3% in the 2nd quarter. Stonepine Capital Management LLC now owns 457,419 shares of the company’s stock valued at $988,000 after acquiring an additional 180,712 shares in the last quarter. Institutional investors and hedge funds own 44.99% of the company’s stock.

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.