Myomo, Inc. (NYSEAMERICAN:MYO) Sees Large Growth in Short Interest

Myomo, Inc. (NYSEAMERICAN:MYO) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 4,720,037 shares, an increase of 38.3% from the January 15th total of 3,411,768 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily trading volume, of 597,938 shares, the days-to-cover ratio is presently 7.9 days. Based on an average daily trading volume, of 597,938 shares, the days-to-cover ratio is presently 7.9 days. Approximately 12.9% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets reduced their price objective on Myomo from $10.50 to $10.00 and set a “buy” rating for the company in a report on Friday, November 21st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.67.

Myomo Stock Performance

Shares of NYSEAMERICAN:MYO traded up $0.01 on Friday, reaching $0.82. 171,333 shares of the company’s stock were exchanged, compared to its average volume of 465,170. The company has a fifty day moving average of $0.94 and a 200-day moving average of $1.01. Myomo has a twelve month low of $0.71 and a twelve month high of $6.30. The company has a market capitalization of $31.53 million, a price-to-earnings ratio of -2.83 and a beta of 1.17. The company has a current ratio of 2.49, a quick ratio of 2.10 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MYO. AIGH Capital Management LLC lifted its holdings in shares of Myomo by 22.3% during the 2nd quarter. AIGH Capital Management LLC now owns 3,555,742 shares of the company’s stock worth $7,680,000 after acquiring an additional 649,053 shares during the period. R Squared Ltd acquired a new position in shares of Myomo during the 2nd quarter worth $29,000. Stratos Wealth Partners LTD. lifted its position in shares of Myomo by 380.0% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 60,000 shares of the company’s stock worth $130,000 after buying an additional 47,500 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Myomo during the 4th quarter worth $64,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Myomo in the fourth quarter valued at about $641,000. Institutional investors own 44.99% of the company’s stock.

About Myomo

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.