Short Interest in Myomo, Inc. (NYSEAMERICAN:MYO) Decreases By 15.7%

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 860,100 shares, a decline of 15.7% from the October 31st total of 1,020,000 shares. Based on an average daily volume of 160,300 shares, the short-interest ratio is currently 5.4 days. Currently, 3.1% of the company's shares are short sold.

Institutional Investors Weigh In On Myomo

Several hedge funds and other institutional investors have recently bought and sold shares of MYO. Barclays PLC acquired a new stake in shares of Myomo during the third quarter valued at about $36,000. Jane Street Group LLC acquired a new stake in Myomo during the third quarter worth approximately $65,000. Vontobel Holding Ltd. acquired a new stake in Myomo during the third quarter worth approximately $90,000. Bailard Inc. acquired a new position in shares of Myomo in the 2nd quarter valued at $109,000. Finally, Accel Wealth Management increased its holdings in shares of Myomo by 6.0% in the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company's stock valued at $141,000 after acquiring an additional 2,500 shares during the period. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MYO. HC Wainwright restated a "buy" rating and set a $7.50 target price on shares of Myomo in a report on Wednesday, November 13th. Ascendiant Capital Markets lifted their target price on Myomo from $8.50 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th.

Myomo Stock Up 7.7 %

MYO traded up $0.40 during midday trading on Friday, hitting $5.62. 386,772 shares of the company traded hands, compared to its average volume of 323,500. The company has a market cap of $170.01 million, a price-to-earnings ratio of -24.52 and a beta of 1.56. Myomo has a 52-week low of $2.51 and a 52-week high of $5.66.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $9.21 million during the quarter, compared to analysts' expectations of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. On average, research analysts forecast that Myomo will post -0.19 EPS for the current year.

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.