Myomo (NYSEAMERICAN:MYO) Given New $9.00 Price Target at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYO) had its price objective raised by Ascendiant Capital Markets from $8.50 to $9.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on MYO. Craig Hallum initiated coverage on shares of Myomo in a research report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 target price on the stock. HC Wainwright lifted 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.

Myomo Trading Up 1.8 %

Shares of NYSEAMERICAN MYO opened at $4.99 on Tuesday. The company has a market cap of $150.95 million, a P/E ratio of -21.30 and a beta of 1.56. Myomo has a 1 year low of $1.85 and a 1 year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative return on equity of 85.07% and a negative net margin of 33.22%. The business had revenue of $9.21 million during the quarter, compared to the consensus estimate of $7.95 million. Sell-side analysts anticipate that Myomo will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MYO. Vontobel Holding Ltd. purchased a new stake in shares of Myomo in the third quarter worth about $90,000. Bailard Inc. acquired a new stake in Myomo in the second quarter valued at approximately $109,000. Accel Wealth Management raised its stake in shares of Myomo by 6.0% during the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after purchasing an additional 2,500 shares during the period. AlphaCentric Advisors LLC acquired a new position in shares of Myomo during the third quarter worth $200,000. Finally, GSA Capital Partners LLP boosted its stake in shares of 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 during the period. 44.99% of the stock is owned by institutional investors and hedge funds.

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.