Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Down 20.5% in March

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 745,900 shares, a decline of 20.5% from the March 15th total of 938,500 shares. Based on an average daily volume of 455,700 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.3% of the company's stock are short sold.

Insider Buying and Selling at Myomo

In related news, insider Harry Kovelman sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total transaction of $165,000.00. Following the transaction, the insider now directly owns 97,973 shares of the company's stock, valued at approximately $538,851.50. The trade was a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas F. Kirk bought 7,400 shares of the business's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $5.00 per share, with a total value of $37,000.00. Following the transaction, the director now owns 255,933 shares in the company, valued at approximately $1,279,665. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.54% of the company's stock.

Hedge Funds Weigh In On Myomo

A number of large investors have recently bought and sold shares of MYO. Soleus Capital Management L.P. acquired a new position in shares of Myomo during the 4th quarter worth approximately $5,796,000. AIGH Capital Management LLC grew its holdings in Myomo by 21.7% in the 4th quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company's stock valued at $21,777,000 after buying an additional 602,719 shares in the last quarter. Portolan Capital Management LLC bought a new position in Myomo during the fourth quarter worth about $2,446,000. Manatuck Hill Partners LLC acquired a new stake in Myomo in the 4th quarter worth about $1,582,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Myomo in the fourth quarter valued at approximately $1,288,000. Institutional investors and hedge funds own 44.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Alliance Global Partners reissued a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. HC Wainwright upped their price target on Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Ascendiant Capital Markets increased their target price on shares of Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Finally, Craig Hallum raised their price objective on Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $9.75.

Myomo Stock Performance

MYO stock traded up $0.23 during midday trading on Thursday, hitting $4.88. 220,980 shares of the company's stock were exchanged, compared to its average volume of 345,150. The stock's fifty day moving average is $4.82. Myomo has a one year low of $2.76 and a one year high of $7.17. The company has a market cap of $147.62 million, a P/E ratio of -21.22 and a beta of 1.68.

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.