Insider Selling: Myomo (NYSEAMERICAN:MYO) Insider Sells $19,669.76 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 15,488 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $1.27, for a total transaction of $19,669.76. Following the transaction, the insider owned 90,245 shares of the company’s stock, valued at approximately $114,611.15. This represents a 14.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Harry Kovelman also recently made the following trade(s):

• On Thursday, August 20th, Harry Kovelman sold 17,250 shares of Myomo stock. The shares were sold at an average price of $1.73, for a total transaction of $29,842.50.

Myomo Stock Performance

Shares of Myomo stock opened at $1.29 on Thursday. The company’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $1.06. The firm has a market capitalization of $51.10 million, a P/E ratio of -3.79 and a beta of 1.50. Myomo, Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $1.89. The company has a debt-to-equity ratio of 1.98, a current ratio of 2.31 and a quick ratio of 2.01.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%.The company had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $10.35 million. On average, equities analysts forecast that Myomo, Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted their price target on Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $10.00.

Hedge Funds Weigh In On Myomo

A hedge fund recently bought a new position in Myomo stock. Jefferies Financial Group Inc. acquired a new position in Myomo, Inc. (NYSEAMERICAN:MYO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 704,275 shares of the company’s stock, valued at approximately $641,000. Jefferies Financial Group Inc. owned about 1.83% of Myomo as of its most recent SEC filing. Institutional investors own 44.99% of the company’s stock.

Myomo Company Profile

Myomo, Inc is a medical technology company that develops, manufactures and markets wearable robotic devices designed to help people with neuromuscular disorders and upper-limb weakness regain movement and perform activities of daily living. The company’s products combine powered actuators, sensors and user-controlled interfaces in lightweight orthotic systems.

Myomo’s principal product is the MyoPro, a powered upper-limb orthosis intended for individuals whose arm and hand function has been impaired by conditions such as stroke, brachial plexus injury, multiple sclerosis, spinal cord injury or other neurological disorders.