Myomo (NYSEAMERICAN:MYO) Coverage Initiated at Lake Street Capital

Lake Street Capital began coverage on shares of Myomo (NYSEAMERICAN:MYOFree Report) in a report released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $7.00 price target on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $6.50 target price on shares of Myomo in a report on Thursday, May 9th.

View Our Latest Stock Report on MYO

Myomo Stock Down 5.7 %

MYO stock opened at $3.83 on Monday. Myomo has a fifty-two week low of $0.43 and a fifty-two week high of $5.58. The firm has a market cap of $110.38 million, a P/E ratio of -14.18 and a beta of 1.51.

Myomo (NYSEAMERICAN:MYOGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Myomo had a negative net margin of 47.77% and a negative return on equity of 94.02%. The business had revenue of $4.76 million for the quarter, compared to analyst estimates of $4.70 million. As a group, equities research analysts expect that Myomo will post -0.18 EPS for the current fiscal year.

Insider Activity at Myomo

In related news, Director Thomas F. Kirk purchased 50,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the director now owns 186,499 shares of the company’s stock, valued at $652,746.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Myomo

A number of institutional investors and hedge funds have recently made changes to their positions in MYO. Essex Investment Management Co. LLC purchased a new stake in Myomo in the 3rd quarter valued at about $325,000. AIGH Capital Management LLC increased its stake in Myomo by 9.4% in the 3rd quarter. AIGH Capital Management LLC now owns 2,188,883 shares of the company’s stock valued at $2,430,000 after buying an additional 188,883 shares during the last quarter. Worth Venture Partners LLC increased its stake in Myomo by 24.9% in the 3rd quarter. Worth Venture Partners LLC now owns 1,397,861 shares of the company’s stock valued at $1,552,000 after buying an additional 278,544 shares during the last quarter. Accurate Wealth Management LLC increased its stake in Myomo by 21.8% in the 4th quarter. Accurate Wealth Management LLC now owns 21,565 shares of the company’s stock valued at $108,000 after buying an additional 3,864 shares during the last quarter. Finally, PFG Advisors purchased a new stake in Myomo in the 4th quarter valued at about $134,000. Institutional investors own 44.99% of the company’s stock.

About Myomo

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Myomo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myomo and related companies with MarketBeat.com's FREE daily email newsletter.