Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Down 15.7% in November

Myomo, Inc. (NYSEAMERICAN:MYO) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 860,100 shares, a drop of 15.7% from the October 31st total of 1,020,000 shares. Based on an average trading volume of 160,300 shares, the short-interest ratio is currently 5.4 days. Currently, 3.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

MYO has been the subject of a number of research analyst reports. Ascendiant Capital Markets lifted their price target on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and set a $7.50 target price on shares of Myomo in a report on Wednesday, November 13th.

Myomo Trading Up 8.0 %

Myomo stock opened at $5.64 on Friday. The stock has a market capitalization of $170.61 million, a price-to-earnings ratio of -24.52 and a beta of 1.56. Myomo has a twelve month low of $2.51 and a twelve month high of $5.66.

Myomo (NYSEAMERICAN:MYO) last announced its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $9.21 million for the quarter, compared to analyst estimates of $7.95 million. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. As a group, equities analysts forecast that Myomo will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myomo

A number of institutional investors have recently modified their holdings of the business. Rosalind Advisors Inc. boosted 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 valued at $12,116,000 after buying an additional 356,392 shares during the period. Herr Investment Group LLC lifted its position in shares of Myomo by 72.9% during the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after acquiring an additional 1,200,244 shares during the period. Essex Investment Management Co. LLC grew its holdings in shares of Myomo by 40.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock worth $3,606,000 after purchasing an additional 257,749 shares in the last quarter. Bailard Inc. bought a new position in shares of Myomo in the second quarter worth $109,000. Finally, GSA Capital Partners LLP raised its stake in Myomo by 60.8% in the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock valued at $414,000 after purchasing an additional 39,085 shares in the last quarter. Institutional investors own 44.99% of the company’s stock.

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.