Myomo, Inc. (NYSEAMERICAN:MYO) Sees Large Growth in Short Interest

Myomo, Inc. (NYSEAMERICAN:MYO) saw a large increase in short interest in January. As of January 30th, there was short interest totaling 4,720,037 shares, an increase of 38.3% from the January 15th total of 3,411,768 shares. Based on an average daily volume of 597,938 shares, the short-interest ratio is presently 7.9 days. Currently, 12.9% of the shares of the stock are short sold. Currently, 12.9% of the shares of the stock are short sold. Based on an average daily volume of 597,938 shares, the short-interest ratio is presently 7.9 days.

Myomo Trading Up 0.9%

Shares of NYSEAMERICAN:MYO traded up $0.01 during midday trading on Friday, hitting $0.82. 171,333 shares of the stock were exchanged, compared to its average volume of 465,170. The business’s 50-day moving average price is $0.94 and its 200 day moving average price is $1.01. Myomo has a 12 month low of $0.71 and a 12 month high of $6.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.10 and a current ratio of 2.49. The stock has a market capitalization of $31.53 million, a price-to-earnings ratio of -2.83 and a beta of 1.17.

Institutional Trading of Myomo

Institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC raised its position in Myomo by 22.3% during the 2nd quarter. AIGH Capital Management LLC now owns 3,555,742 shares of the company’s stock worth $7,680,000 after purchasing an additional 649,053 shares during the last quarter. R Squared Ltd bought a new stake in shares of Myomo in the 2nd quarter valued at about $29,000. Stratos Wealth Partners LTD. increased its stake in shares of Myomo by 380.0% in the second quarter. Stratos Wealth Partners LTD. now owns 60,000 shares of the company’s stock valued at $130,000 after buying an additional 47,500 shares during the period. Jane Street Group LLC bought a new position in shares of Myomo during the fourth quarter worth about $64,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Myomo in the fourth quarter worth approximately $641,000. Institutional investors own 44.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets cut their target price on shares of Myomo from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.67.

About Myomo

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company’s flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users’ own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.