Myomo (NYSEAMERICAN:MYO) Shares Down 3.6% – Time to Sell?

Myomo, Inc. (NYSEAMERICAN:MYO) shares were down 3.6% during mid-day trading on Tuesday . The company traded as low as $0.6531 and last traded at $0.6770. Approximately 197,700 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 412,156 shares. The stock had previously closed at $0.7024.

Wall Street Analyst Weigh In

Separately, Craig Hallum reiterated a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.67.

Myomo Price Performance

The business has a fifty day moving average price of $0.75 and a 200-day moving average price of $0.89. The company has a current ratio of 3.30, a quick ratio of 2.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $26.07 million, a PE ratio of -1.83 and a beta of 1.17.

Insider Activity

In related news, Director Thomas F. Kirk bought 72,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $0.71 per share, for a total transaction of $51,120.00. Following the acquisition, the director directly owned 553,857 shares of the company’s stock, valued at $393,238.47. The trade was a 14.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heather C. Getz bought 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $0.73 per share, with a total value of $51,100.00. Following the completion of the acquisition, the director directly owned 111,754 shares in the company, valued at $81,580.42. This trade represents a 167.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 162,000 shares of company stock valued at $116,220 over the last 90 days. 4.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Myomo

Several institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. boosted its holdings in Myomo by 1.3% during the 4th quarter. Rosalind Advisors Inc. now owns 3,839,772 shares of the company’s stock valued at $3,494,000 after acquiring an additional 48,984 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Myomo in the 4th quarter worth approximately $641,000. Geode Capital Management LLC lifted its holdings in Myomo by 160.8% in the 2nd quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock worth $1,446,000 after buying an additional 412,631 shares during the period. AQR Capital Management LLC lifted its holdings in Myomo by 47.8% in the 4th quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock worth $395,000 after buying an additional 140,427 shares during the period. Finally, State Street Corp lifted its holdings in Myomo by 5.1% in the 4th quarter. State Street Corp now owns 399,853 shares of the company’s stock worth $364,000 after buying an additional 19,563 shares during the period. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

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.