Milton Mayo Morris Sells 15,000 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Milton Mayo Morris sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $1.41, for a total transaction of $21,150.00. Following the completion of the transaction, the director owned 208,391 shares in the company, valued at $293,831.31. The trade was a 6.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Myomo Stock Performance

Shares of NYSEAMERICAN:MYO opened at $1.44 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.02. The company has a market cap of $57.04 million, a price-to-earnings ratio of -4.24 and a beta of 1.50. Myomo, Inc. has a 12 month low of $0.60 and a 12 month high of $1.89.

Myomo (NYSEAMERICAN:MYO) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%.The company had revenue of $11.70 million for the quarter, compared to analysts’ expectations of $10.35 million. As a group, equities analysts anticipate that Myomo, Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Myomo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Myomo during the 1st quarter valued at about $75,000. Invesco Ltd. bought a new position in Myomo in the second quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Myomo in the second quarter worth about $38,000. Acadian Asset Management LLC purchased a new stake in Myomo in the first quarter worth about $114,000. Finally, Engineers Gate Manager LP lifted its holdings in Myomo by 62.8% in the second quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock worth $65,000 after buying an additional 11,614 shares during the period. 44.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their target price on Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.00.

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.