Myomo (NYSEAMERICAN:MYO) Insider Sells $11,766.72 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 11,536 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $1.02, for a total transaction of $11,766.72. Following the completion of the sale, the insider owned 108,618 shares in the company, valued at $110,790.36. This represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Myomo Stock Performance

NYSEAMERICAN MYO traded up $0.09 during midday trading on Thursday, hitting $1.09. The company had a trading volume of 725,122 shares, compared to its average volume of 476,823. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 1.21. The stock has a market cap of $42.12 million, a price-to-earnings ratio of -3.03 and a beta of 1.39. The firm has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $0.85. Myomo, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.14.

Hedge Funds Weigh In On Myomo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Myomo during the 1st quarter worth about $75,000. Invesco Ltd. bought a new position in shares of Myomo during the 2nd quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Myomo during the 2nd quarter worth about $38,000. Acadian Asset Management LLC bought a new position in shares of Myomo during the 1st quarter worth about $114,000. Finally, Engineers Gate Manager LP lifted its holdings 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 worth $65,000 after acquiring an additional 11,614 shares during the period. 44.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Craig Hallum restated a “buy” rating on shares of Myomo in a research report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.67.

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.