Myomo (NYSEAMERICAN:MYO) Shares Down 0.8% – Here’s What Happened

Myomo, Inc. (NYSEAMERICAN:MYO) shares fell 0.8% during mid-day trading on Monday. The company traded as low as $1.17 and last traded at $1.20. 116,484 shares were traded during trading, a decline of 54% from the average daily volume of 253,625 shares. The stock had previously closed at $1.21.

Myomo Stock Performance

The company has a market capitalization of $47.53 million, a PE ratio of -3.53 and a beta of 1.58. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 1.98. The firm’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.07.

Myomo (NYSEAMERICAN:MYO) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Myomo had a negative net margin of 33.53% and a negative return on equity of 138.85%. The business had revenue of $11.70 million for the quarter, compared to the consensus estimate of $10.35 million. On average, research analysts predict that Myomo, Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In other Myomo news, insider Harry Kovelman sold 17,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1.73, for a total transaction of $29,842.50. Following the transaction, the insider directly owned 105,983 shares in the company, valued at $183,350.59. This trade represents a 14.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 47,738 shares of company stock worth $70,662. Company insiders own 12.14% of the company’s stock.

Myomo Company Profile

Myomo, Inc is a medical device company that develops and markets wearable robotic braces designed to help individuals with impaired upper-limb function regain movement and perform activities of daily living. Its principal product is the MyoPro, a lightweight, electrically powered orthosis that detects a user’s residual muscle signals and assists movement of the arm and hand.

The MyoPro is intended for people affected by neuromuscular disorders and injuries, including stroke, brachial plexus injury, multiple sclerosis, traumatic brain injury and spinal cord injury.