Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Up 22.3% in March

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 938,500 shares, an increase of 22.3% from the February 28th total of 767,200 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 451,800 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Ratings Changes

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

Insider Transactions at Myomo

In other news, insider Micah Mitchell sold 48,000 shares of Myomo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.16, for a total transaction of $247,680.00. Following the transaction, the insider now directly owns 140,572 shares in the company, valued at approximately $725,351.52. This trade represents a 25.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harry Kovelman sold 30,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total value of $165,000.00. Following the transaction, the insider now directly owns 97,973 shares of the company's stock, valued at $538,851.50. This represents a 23.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.54% of the company's stock.

Institutional Investors Weigh In On Myomo

A number of hedge funds and other institutional investors have recently made changes to their positions in MYO. Barclays PLC acquired a new position in Myomo during the third quarter worth $36,000. Jane Street Group LLC acquired a new position in shares of Myomo during the 3rd quarter valued at about $65,000. AIGH Capital Management LLC raised its stake in shares of 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 acquiring an additional 602,719 shares in the last quarter. Perkins Capital Management Inc. bought a new stake in Myomo during the fourth quarter worth approximately $483,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Myomo during the fourth quarter valued at approximately $1,288,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

Myomo Stock Up 2.3 %

Shares of Myomo stock traded up $0.10 on Monday, hitting $4.45. 189,743 shares of the company traded hands, compared to its average volume of 338,656. Myomo has a 12-month low of $2.51 and a 12-month high of $7.17. The stock has a market cap of $134.61 million, a P/E ratio of -19.35 and a beta of 1.68.

About Myomo

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.