Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Up 48.5% in March

Myomo, Inc. (NYSEAMERICAN:MYOGet Rating) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 29,100 shares, an increase of 48.5% from the March 15th total of 19,600 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is currently 0.7 days.

MYO has been the subject of a number of recent analyst reports. Colliers Securities reiterated a “buy” rating on shares of Myomo in a report on Tuesday, March 22nd. Zacks Investment Research raised shares of Myomo from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, Alliance Global Partners dropped their price target on shares of Myomo from $34.00 to $19.00 in a research note on Thursday, March 10th.

MYO opened at $3.71 on Friday. Myomo has a 52 week low of $3.61 and a 52 week high of $14.35. The stock has a market cap of $25.52 million, a price-to-earnings ratio of -1.94 and a beta of 1.00.

Myomo (NYSEAMERICAN:MYOGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.03). Myomo had a negative return on equity of 71.00% and a negative net margin of 74.85%. On average, equities research analysts forecast that Myomo will post -1.58 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MYO. Wells Fargo & Company MN boosted its stake in Myomo by 326.4% in the second quarter. Wells Fargo & Company MN now owns 5,232 shares of the company’s stock valued at $56,000 after acquiring an additional 4,005 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Myomo by 17.9% during the fourth quarter. Northern Trust Corp now owns 11,788 shares of the company’s stock worth $81,000 after buying an additional 1,786 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Myomo during the third quarter worth $122,000. Dimensional Fund Advisors LP raised its holdings in shares of Myomo by 67.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,121 shares of the company’s stock worth $124,000 after purchasing an additional 7,320 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Myomo by 4.2% in the third quarter. Geode Capital Management LLC now owns 44,358 shares of the company’s stock valued at $527,000 after buying an additional 1,800 shares in the last quarter. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Myomo Company Profile (Get Rating)

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States. 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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