Craig Hallum Forecasts Strong Price Appreciation for Myomo (NYSEAMERICAN:MYO) Stock

Myomo (NYSEAMERICAN:MYO - Get Free Report) had its price target hoisted by Craig Hallum from $7.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Craig Hallum's price objective points to a potential upside of 43.77% from the stock's previous close.

Several other research analysts have also weighed in on MYO. Ascendiant Capital Markets lifted their price objective on shares of Myomo from $8.50 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. HC Wainwright reissued a "buy" rating and set a $7.50 price target on shares of Myomo in a research report on Wednesday, November 13th.

Myomo Trading Down 1.6 %

Shares of MYO stock traded down $0.10 during trading hours on Friday, reaching $6.26. 269,875 shares of the company were exchanged, compared to its average volume of 329,704. Myomo has a fifty-two week low of $2.51 and a fifty-two week high of $6.74. The firm has a market capitalization of $189.37 million, a price-to-earnings ratio of -28.17 and a beta of 1.71.

Myomo (NYSEAMERICAN:MYO - Get Free Report) 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 firm had revenue of $9.21 million for the quarter, compared to the consensus estimate of $7.95 million. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. On average, equities research analysts forecast that Myomo will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Myomo

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in Myomo in the 3rd quarter valued at about $36,000. Jane Street Group LLC bought a new stake in shares of Myomo in the third quarter valued at approximately $65,000. Vontobel Holding Ltd. acquired a new stake in Myomo during the third quarter worth approximately $90,000. Bailard Inc. bought a new position in Myomo during the 2nd quarter worth $109,000. Finally, XTX Topco Ltd acquired a new position in Myomo in the 3rd quarter valued at $149,000. 44.99% of the stock is owned by institutional investors and hedge funds.

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.