Bailard Inc. Makes New $109,000 Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

Bailard Inc. bought a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,905 shares of the company’s stock, valued at approximately $109,000. Bailard Inc. owned about 0.12% of Myomo at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Myomo by 178.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,257 shares of the company’s stock worth $46,000 after purchasing an additional 5,932 shares during the last quarter. Summit Financial Strategies Inc. acquired a new position in Myomo during the 4th quarter worth $50,000. Accel Wealth Management bought a new position in shares of Myomo in the first quarter worth $135,000. PFG Advisors raised its stake in shares of Myomo by 74.8% during the first quarter. PFG Advisors now owns 46,760 shares of the company’s stock valued at $153,000 after purchasing an additional 20,016 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in Myomo by 537.9% in the first quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company’s stock worth $1,971,000 after purchasing an additional 508,249 shares during the period. Institutional investors own 44.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Ascendiant Capital Markets increased their price target on Myomo from $8.25 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 19th. HC Wainwright upped their price target on shares of Myomo from $6.50 to $7.50 and gave the company a “buy” rating in a report on Monday, August 12th. Craig Hallum started coverage on shares of Myomo in a research note on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Lake Street Capital increased their target price on shares of Myomo from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, July 9th.

Myomo Price Performance

Shares of NYSEAMERICAN MYO opened at $3.99 on Wednesday. The firm has a market cap of $114.99 million, a PE ratio of -14.78 and a beta of 1.56. Myomo, Inc. has a 12 month low of $0.62 and a 12 month high of $5.64.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. Myomo had a negative net margin of 47.77% and a negative return on equity of 94.02%. The company had revenue of $7.52 million during the quarter, compared to analyst estimates of $7.30 million. On average, research analysts anticipate that Myomo, Inc. will post -0.18 earnings per share for the current fiscal year.

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.