Myomo (NYSEAMERICAN:MYO) Given New $9.00 Price Target at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYOFree Report) had its target price boosted by Ascendiant Capital Markets from $8.50 to $9.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

MYO has been the subject of a number of other research reports. HC Wainwright upped their target price on Myomo from $6.50 to $7.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Craig Hallum began coverage on Myomo in a research note on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price objective for the company.

Read Our Latest Stock Report on MYO

Myomo Stock Performance

MYO opened at $4.66 on Tuesday. The company has a market capitalization of $140.97 million, a PE ratio of -20.17 and a beta of 1.56. Myomo has a 1-year low of $2.51 and a 1-year high of $5.64.

Myomo (NYSEAMERICAN:MYOGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $9.21 million during the quarter, compared to the consensus estimate of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. On average, analysts expect that Myomo will post -0.17 earnings per share for the current year.

Institutional Trading of Myomo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Herr Investment Group LLC grew its position in shares of Myomo by 72.9% in the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after buying an additional 1,200,244 shares during the last quarter. Rosalind Advisors Inc. lifted its stake in shares of Myomo by 13.4% in the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock worth $12,116,000 after acquiring an additional 356,392 shares during the period. Essex Investment Management Co. LLC boosted its holdings in Myomo by 40.2% in the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock valued at $3,606,000 after acquiring an additional 257,749 shares during the last quarter. AIGH Capital Management LLC increased its position in Myomo by 4.1% during the 2nd quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after purchasing an additional 115,405 shares during the period. Finally, Stonepine Capital Management LLC bought a new position in Myomo during the 3rd quarter worth approximately $401,000. 44.99% of the stock is currently owned by institutional investors and hedge funds.

About Myomo

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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.

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