Myomo (NYSEAMERICAN:MYO) Shares Up 2.5% – Time to Buy?

Myomo, Inc. (NYSEAMERICAN:MYO) shares shot up 2.5% on Monday. The stock traded as high as $1.7250 and last traded at $1.67. Approximately 272,872 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 337,853 shares. The stock had previously closed at $1.63.

Wall Street Analysts Forecast Growth

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

Myomo Stock Up 2.5%

The stock has a market capitalization of $66.15 million, a PE ratio of -4.91 and a beta of 1.58. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 1.98. The company’s 50-day moving average is $1.44 and its 200 day moving average is $1.13.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping 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. As a group, analysts anticipate that Myomo, Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, insider Harry Kovelman sold 17,250 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $1.73, for a total value of $29,842.50. Following the transaction, the insider owned 105,983 shares in the company, valued at approximately $183,350.59. This represents a 14.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 47,738 shares of company stock valued at $70,662 in the last 90 days. 12.14% of the stock is owned by corporate insiders.

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.