GSA Capital Partners LLP Increases Stock Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

GSA Capital Partners LLP lifted its holdings in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 60.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,342 shares of the company’s stock after acquiring an additional 39,085 shares during the period. GSA Capital Partners LLP’s holdings in Myomo were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Herr Investment Group LLC lifted its holdings in Myomo by 72.9% in the second quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after acquiring an additional 1,200,244 shares during the period. Rosalind Advisors Inc. increased its position in shares of Myomo by 13.4% in the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock valued at $12,116,000 after buying an additional 356,392 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Myomo by 40.2% in the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock valued at $3,606,000 after buying an additional 257,749 shares in the last quarter. Bailard Inc. purchased a new position in shares of Myomo in the second quarter valued at $109,000. Finally, Accel Wealth Management increased its position in Myomo by 6.0% during the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after purchasing an additional 2,500 shares in the last quarter. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Trading Down 2.4 %

Myomo stock opened at $4.80 on Friday. The company has a market cap of $145.20 million, a P/E ratio of -20.87 and a beta of 1.56. Myomo, Inc. has a one year low of $2.51 and a one year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last announced its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. The company had revenue of $9.21 million for the quarter, compared to analyst estimates of $7.95 million. Sell-side analysts expect that Myomo, Inc. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on MYO shares. Craig Hallum initiated coverage on Myomo in a research report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Myomo in a report on Wednesday, November 13th. Finally, Ascendiant Capital Markets lifted their price target on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

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.