Harry Kovelman Sells 17,250 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 17,250 shares of the business’s stock in a transaction dated 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 $183,350.59. This represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total value of $20,464.00.
• On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The stock was sold at an average price of $1.02, for a total value of $11,766.72.

Myomo Price Performance

Shares of NYSEAMERICAN:MYO opened at $1.73 on Friday. Myomo, Inc. has a 1-year low of $0.60 and a 1-year high of $1.89. The firm has a market capitalization of $68.53 million, a PE ratio of -5.09 and a beta of 1.50. The business’s 50 day moving average is $1.22 and its 200-day moving average is $0.97. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 1.98.

Myomo (NYSEAMERICAN:MYO) last issued its 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. The business had revenue of $11.70 million during the quarter, compared to analyst estimates of $10.35 million. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%. Sell-side analysts predict that Myomo, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their price objective on shares of 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, Based on data from MarketBeat, Myomo presently has a consensus rating of “Buy” and an average price target of $10.00.

Institutional Investors Weigh In On Myomo

Institutional investors and hedge funds have recently made changes to their positions in the company. Rosalind Advisors Inc. grew its holdings in shares of Myomo by 33.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company’s stock worth $7,767,000 after purchasing an additional 892,127 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Myomo during the 4th quarter valued at about $641,000. Geode Capital Management LLC boosted its position in Myomo by 160.8% in the second quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock valued at $1,446,000 after buying an additional 412,631 shares in the last quarter. Centiva Capital LP acquired a new position in Myomo in the third quarter valued at about $190,000. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Myomo during the fourth quarter worth about $169,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

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.