Myomo (NYSEAMERICAN:MYO) Shares Down 3.8% – Time to Sell?

Shares of Myomo, Inc. (NYSEAMERICAN:MYO) were down 3.8% on Thursday . The stock traded as low as $0.9981 and last traded at $1.00. Approximately 117,411 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 677,845 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets raised their price objective on Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.50.

Myomo Trading Down 3.0%

The stock’s fifty day simple moving average is $1.12 and its two-hundred day simple moving average is $0.92. The firm has a market cap of $37.48 million, a PE ratio of -2.69 and a beta of 1.47. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 1.21.

Insiders Place Their Bets

In related news, Director Thomas F. Kirk bought 43,401 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $0.91 per share, with a total value of $39,494.91. Following the completion of the purchase, the director owned 628,863 shares in the company, valued at approximately $572,265.33. The trade was a 7.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph M. Jr. Manko bought 170,830 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $0.86 per share, for a total transaction of $146,913.80. Following the completion of the purchase, the director owned 2,279,408 shares of the company’s stock, valued at approximately $1,960,290.88. The trade was a 8.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 341,205 shares of company stock valued at $317,748 in the last quarter. 12.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Myomo

Large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Myomo in the 4th quarter worth about $148,000. AQR Capital Management LLC increased its stake in Myomo by 47.8% during the 4th quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock valued at $395,000 after purchasing an additional 140,427 shares in the last quarter. State Street Corp increased its stake in Myomo by 5.1% during the 4th quarter. State Street Corp now owns 399,853 shares of the company’s stock valued at $364,000 after purchasing an additional 19,563 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Myomo by 103.1% in the fourth quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock worth $35,000 after buying an additional 19,646 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Myomo in the fourth quarter worth about $64,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

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.