Myomo’s (MYO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Myomo (NYSEAMERICAN:MYO) in a report issued on Wednesday,Benzinga reports. They currently have a $7.50 price objective on the stock. HC Wainwright also issued estimates for Myomo’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.18) 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, FY2027 earnings at $0.21 EPS and FY2028 earnings at $0.41 EPS.

A number of other brokerages have also commented on MYO. Craig Hallum assumed coverage on shares of Myomo in a research report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price objective for the company. Ascendiant Capital Markets raised their price objective on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday.

Myomo Stock Down 3.9 %

Shares of NYSEAMERICAN:MYO opened at $4.66 on Wednesday. The company has a market cap of $140.97 million, a P/E ratio of -20.17 and a beta of 1.56. Myomo has a twelve month low of $2.51 and a twelve month high of $5.64.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data 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. On average, equities research analysts forecast that Myomo will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Myomo

Institutional investors have recently made changes to their positions in the business. Herr Investment Group LLC lifted its stake in Myomo by 67.9% during the first quarter. Herr Investment Group LLC now owns 1,645,827 shares of the company’s stock worth $5,382,000 after purchasing an additional 665,330 shares during the period. Rosalind Advisors Inc. boosted its stake in Myomo by 8.9% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company’s stock valued at $8,555,000 after buying an additional 217,259 shares in the last quarter. Accel Wealth Management grew its position in Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after acquiring an additional 2,500 shares during the period. Bailard Inc. acquired a new position in Myomo during the second quarter worth $109,000. Finally, AIGH Capital Management LLC lifted its holdings in shares of Myomo by 4.1% during the second quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after acquiring an additional 115,405 shares during the period. 44.99% of the stock is currently owned by institutional investors and hedge funds.

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.