Myomo (NYSEAMERICAN:MYO) Shares Down 0.8% – Time to Sell?

Myomo, Inc. (NYSEAMERICAN:MYO) dropped 0.8% during mid-day trading on Monday. The stock traded as low as $1.17 and last traded at $1.20. 116,484 shares were traded during mid-day trading, a decline of 54% from the average session volume of 253,625 shares. The stock had previously closed at $1.21.

Myomo Stock Performance

The business has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.07. The firm has a market capitalization of $47.53 million, a price-to-earnings ratio of -3.53 and a beta of 1.58. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 1.98.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share 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 firm had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $10.35 million. As a group, sell-side analysts forecast that Myomo, Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In other Myomo news, insider Harry Kovelman sold 17,250 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1.73, for a total value of $29,842.50. Following the completion of the sale, the insider directly owned 105,983 shares in the company, valued at approximately $183,350.59. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 47,738 shares of company stock valued at $70,662 in the last three months. Company insiders own 12.14% of the company’s stock.

Myomo Company Profile

Myomo, Inc is a medical device company that develops and markets wearable robotic braces designed to help individuals with impaired upper-limb function regain movement and perform activities of daily living. Its principal product is the MyoPro, a lightweight, electrically powered orthosis that detects a user’s residual muscle signals and assists movement of the arm and hand.

The MyoPro is intended for people affected by neuromuscular disorders and injuries, including stroke, brachial plexus injury, multiple sclerosis, traumatic brain injury and spinal cord injury.