Key Points
- Myomo insider Harry Kovelman sold 15,488 shares at an average price of $1.27, generating $19,669.76 and reducing his holdings by 14.65% to 90,245 shares.
- Myomo reported quarterly revenue of $11.70 million and an adjusted loss of $0.09 per share, exceeding analyst expectations, but remains unprofitable with a negative net margin.
- Despite the insider sale, analysts maintain a consensus “Buy” rating with a $10 average price target; institutional investors own approximately 44.99% of the company.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 15,488 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $1.27, for a total transaction of $19,669.76. Following the completion of the sale, the insider owned 90,245 shares of the company's stock, valued at $114,611.15. This represents a 14.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Harry Kovelman also recently made the following trade(s):
- On Thursday, August 20th, Harry Kovelman sold 17,250 shares of Myomo stock. The shares were sold at an average price of $1.73, for a total value of $29,842.50.
Myomo Stock Performance
Shares of MYO stock opened at $1.30 on Tuesday. Myomo, Inc. has a 12 month low of $0.60 and a 12 month high of $1.89. The business's 50 day moving average is $1.29 and its two-hundred day moving average is $1.05. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 1.98. The company has a market cap of $51.49 million, a PE ratio of -3.82 and a beta of 1.50.
Myomo (NYSEAMERICAN:MYO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $11.70 million for the quarter, compared to the consensus estimate of $10.35 million. Myomo had a negative net margin of 33.53% and a negative return on equity of 138.85%. Equities analysts predict that Myomo, Inc. will post -0.32 EPS for the current year.
Hedge Funds Weigh In On Myomo
A hedge fund recently bought a new position in Myomo stock. Jefferies Financial Group Inc. purchased a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 704,275 shares of the company's stock, valued at approximately $641,000. Jefferies Financial Group Inc. owned approximately 1.83% of Myomo as of its most recent SEC filing. Hedge funds and other institutional investors own 44.99% of the company's stock.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets boosted their price target on Myomo from $9.50 to $10.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $10.00.
Read Our Latest Stock Analysis on MYO
Myomo Company Profile
(
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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