Myomo (NYSEAMERICAN:MYO – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $7.50 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 55.28% from the company’s previous close.
MYO has been the subject of several other reports. Craig Hallum initiated coverage on shares of Myomo in a report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price target on the stock. Ascendiant Capital Markets boosted their price objective on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday.
Check Out Our Latest Research Report on MYO
Myomo Trading Down 3.2 %
Myomo (NYSEAMERICAN:MYO – Get Free Report) last announced 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. The business had revenue of $9.21 million during the quarter, compared to analysts’ expectations of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. Research analysts predict that Myomo will post -0.17 earnings per share for the current year.
Hedge Funds Weigh In On Myomo
A number of large investors have recently made changes to their positions in MYO. Vontobel Holding Ltd. bought a new position in Myomo in the third quarter worth $90,000. Bailard Inc. bought a new stake in Myomo in the second quarter valued at about $109,000. Accel Wealth Management raised its holdings in Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after purchasing an additional 2,500 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Myomo during the third quarter worth about $200,000. Finally, GSA Capital Partners LLP lifted its position in Myomo by 60.8% in the 3rd quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock valued at $414,000 after acquiring an additional 39,085 shares in the last quarter. Institutional investors and hedge funds own 44.99% of the company’s stock.
Myomo Company Profile
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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