HC Wainwright Issues Pessimistic Estimate for Myomo Earnings

Myomo, Inc. (NYSEAMERICAN:MYO) – Investment analysts at HC Wainwright cut their FY2024 earnings estimates for Myomo in a report issued on Wednesday, November 13th. HC Wainwright analyst S. Lee now expects that the company will post earnings of ($0.18) per share for the year, down from their previous forecast of ($0.16). HC Wainwright currently has a “Buy” rating and a $7.50 price target on the stock. The consensus estimate for Myomo’s current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Myomo’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.03 EPS, FY2025 earnings at ($0.12) EPS, FY2026 earnings at $0.05 EPS and FY2027 earnings at $0.21 EPS.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. The company had revenue of $9.21 million during the quarter, compared to analysts’ expectations of $7.95 million.

MYO has been the topic of a number of other research reports. Craig Hallum initiated coverage on shares of Myomo in a research report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price target on the stock. Ascendiant Capital Markets lifted their target price on shares of Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday.

Myomo Trading Down 3.9 %

Shares of MYO stock opened at $4.66 on Friday. The company has a market capitalization of $140.97 million, a P/E ratio of -20.17 and a beta of 1.56. Myomo has a one year low of $2.51 and a one year high of $5.64.

Institutional Trading of Myomo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYO. Accel Wealth Management raised its holdings in Myomo by 6.0% during the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after buying an additional 2,500 shares during the last quarter. Barclays PLC bought a new stake in shares of Myomo during the third quarter worth about $36,000. Jane Street Group LLC acquired a new stake in shares of Myomo in the 3rd quarter worth about $65,000. Vontobel Holding Ltd. bought a new position in Myomo in the 3rd quarter valued at about $90,000. Finally, Bailard Inc. bought a new position in Myomo in the 2nd quarter valued at about $109,000. 44.99% of the stock is owned by institutional investors.

About Myomo

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.