Myomo (MYO) Shares Down 0.6%

Myomo (NYSEAMERICAN:MYO) shares were down 0.6% on Wednesday . The stock traded as low as $3.46 and last traded at $3.55. Approximately 2,564 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 760,092 shares. The stock had previously closed at $3.53.

Several research analysts recently weighed in on MYO shares. HC Wainwright set a $12.00 price objective on shares of Myomo and gave the stock a “buy” rating in a research report on Thursday, March 8th. Roth Capital started coverage on shares of Myomo in a research report on Friday, March 9th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Myomo from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Thursday, March 22nd.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings results on Wednesday, March 7th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. Myomo had a negative return on equity of 155.42% and a negative net margin of 257.70%. The company had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.35 million.

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Myomo in the fourth quarter worth $124,000. Citadel Advisors LLC lifted its position in Myomo by 243.9% during the first quarter. Citadel Advisors LLC now owns 40,861 shares of the company’s stock valued at $121,000 after buying an additional 28,981 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Myomo during the fourth quarter valued at $257,000. Hudson Bay Capital Management LP purchased a new position in Myomo during the fourth quarter valued at $294,000. Finally, A.R.T. Advisors LLC purchased a new position in Myomo during the first quarter valued at $277,000.

Myomo Company Profile

Myomo, Inc, a commercial stage medical robotics company, designs, develops, and produces myoelectric braces or orthotics for people suffering with neuromuscular disorders in the United States. It offers MyoPro, a powered upper limb orthosis that supports the arm, as well as restores function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain injury, spinal cord injury, ALS, or other neuromuscular disease or injury.

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