Key Points
- Myomo insider Harry Kovelman sold 17,250 shares on August 20 at an average price of $1.73, totaling $29,842.50 and reducing his direct holdings by 14% to 105,983 shares.
- Myomo reported quarterly revenue of $11.70 million, exceeding analyst estimates, while its adjusted loss of $0.09 per share was slightly better than expected. The company remains unprofitable, with a negative net margin of 33.53%.
- Institutional investors own approximately 44.99% of Myomo, and analysts maintain a consensus “Buy” rating with a $10 price target, substantially above the stock’s recent $1.73 price.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 17,250 shares of Myomo stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1.73, for a total value of $29,842.50. Following the sale, the insider directly owned 105,983 shares of the company's stock, valued at approximately $183,350.59. This represents a 14.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Harry Kovelman also recently made the following trade(s):
- On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total value of $20,464.00.
- On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The shares were sold at an average price of $1.02, for a total value of $11,766.72.
Myomo Trading Down 0.6%
Shares of NYSEAMERICAN:MYO opened at $1.73 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 1.98. Myomo, Inc. has a 52-week low of $0.60 and a 52-week high of $1.89. The stock has a market cap of $68.53 million, a price-to-earnings ratio of -5.09 and a beta of 1.50. The business has a 50-day moving average price of $1.22 and a 200-day moving average price of $0.97.
Myomo (NYSEAMERICAN:MYO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%.The firm had revenue of $11.70 million for the quarter, compared to analyst estimates of $10.35 million. Equities analysts predict that Myomo, Inc. will post -0.33 EPS for the current year.
Hedge Funds Weigh In On Myomo
A number of institutional investors have recently modified their holdings of MYO. Rosalind Advisors Inc. lifted its holdings in shares of Myomo by 33.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company's stock valued at $7,767,000 after buying an additional 892,127 shares during the period. Jefferies Financial Group Inc. purchased a new position in Myomo during the fourth quarter valued at approximately $641,000. Geode Capital Management LLC lifted its holdings in Myomo by 160.8% in the second quarter. Geode Capital Management LLC now owns 669,281 shares of the company's stock valued at $1,446,000 after acquiring an additional 412,631 shares during the period. Centiva Capital LP acquired a new position in Myomo in the third quarter valued at approximately $190,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in Myomo in the 4th quarter worth approximately $169,000. Hedge funds and other institutional investors own 44.99% of the company's stock.
Analyst Ratings Changes
Separately, Ascendiant Capital Markets upped their price objective on shares of Myomo from $9.50 to $10.00 and gave the company a "buy" rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $10.00.
View Our Latest Research Report on Myomo
About Myomo
(
Get Free Report)
Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company's flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users' own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.
Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.
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