Short Interest in Myomo, Inc. (NYSEAMERICAN:MYO) Drops By 22.5%

Myomo, Inc. (NYSEAMERICAN:MYO) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 3,786,607 shares, a decrease of 22.5% from the March 15th total of 4,889,015 shares. Based on an average daily volume of 301,599 shares, the short-interest ratio is presently 12.6 days. Currently, 10.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Craig Hallum reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.67.

Myomo Price Performance

Myomo stock opened at $0.79 on Wednesday. Myomo has a one year low of $0.61 and a one year high of $4.99. The business has a fifty day moving average price of $0.74 and a 200-day moving average price of $0.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.30 and a quick ratio of 2.93. The firm has a market capitalization of $30.50 million, a P/E ratio of -2.14 and a beta of 1.17.

Insider Buying and Selling at Myomo

In other news, Director Heather C. Getz acquired 70,000 shares of Myomo stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $0.73 per share, with a total value of $51,100.00. Following the completion of the acquisition, the director owned 111,754 shares in the company, valued at approximately $81,580.42. This trade represents a 167.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas F. Kirk acquired 72,000 shares of Myomo stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $0.71 per share, with a total value of $51,120.00. Following the completion of the acquisition, the director owned 553,857 shares of the company’s stock, valued at $393,238.47. This trade represents a 14.94% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 162,000 shares of company stock valued at $116,220. 4.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Myomo

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Myomo by 93.6% in the third quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock worth $27,000 after acquiring an additional 14,705 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Myomo by 103.1% in the fourth quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock worth $35,000 after acquiring an additional 19,646 shares during the period. Invesco Ltd. bought a new position in shares of Myomo in the second quarter worth $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Myomo in the second quarter worth $38,000. Finally, Jane Street Group LLC bought a new position in shares of Myomo in the fourth quarter worth $64,000. 44.99% of the stock is owned by institutional investors.

Myomo Company Profile

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.