Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Update

Myomo, Inc. (NYSEAMERICAN:MYO) was the recipient of a large 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 trading volume of 160,300 shares, the short-interest ratio is currently 5.4 days. Approximately 3.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Myomo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC purchased a new stake in shares of Myomo during the 3rd quarter worth approximately $36,000. Jane Street Group LLC purchased a new stake in Myomo during the third quarter worth $65,000. Vontobel Holding Ltd. acquired a new stake in Myomo in the third quarter valued at $90,000. 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 shares of Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after buying an additional 2,500 shares in the last quarter. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Stock Performance

Shares of MYO opened at $5.62 on Monday. Myomo has a twelve month low of $2.51 and a twelve month high of $5.66. The company has a market capitalization of $170.01 million, a price-to-earnings ratio of -24.43 and a beta of 1.56.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 business had revenue of $9.21 million during the quarter, compared to analysts’ expectations of $7.95 million. Analysts expect that Myomo will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MYO. Ascendiant Capital Markets boosted their target price on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $7.50 price objective on shares of Myomo in a research note on Wednesday, November 13th.

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.