Myomo (NYSEAMERICAN:MYO) Shares Down 3.6% – Time to Sell?

Myomo, Inc. (NYSEAMERICAN:MYO) was down 3.6% on Tuesday . The stock traded as low as $0.6531 and last traded at $0.6770. Approximately 197,700 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 412,156 shares. The stock had previously closed at $0.7024.

Analyst Upgrades and Downgrades

Separately, Craig Hallum reiterated a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.67.

Myomo Trading Down 3.6%

The company has a current ratio of 3.30, a quick ratio of 2.93 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $0.75 and a two-hundred day simple moving average of $0.89. The firm has a market cap of $26.07 million, a PE ratio of -1.83 and a beta of 1.17.

Insider Activity at Myomo

In other news, Director Heather C. Getz bought 70,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $0.73 per share, with a total value of $51,100.00. Following the transaction, the director owned 111,754 shares of the company’s stock, valued at approximately $81,580.42. The trade was a 167.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Kirk bought 72,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $0.71 per share, with a total value of $51,120.00. Following the transaction, the director directly owned 553,857 shares in the company, valued at approximately $393,238.47. This represents a 14.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 162,000 shares of company stock valued at $116,220 in the last three months. Corporate insiders own 4.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MYO. Rosalind Advisors Inc. raised its position 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 acquiring an additional 892,127 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Myomo in the 4th quarter worth approximately $641,000. Geode Capital Management LLC raised its position in shares of Myomo by 160.8% in the 2nd quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock worth $1,446,000 after acquiring an additional 412,631 shares in the last quarter. Centiva Capital LP bought a new position in shares of Myomo in the 3rd quarter worth approximately $190,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Myomo in the 4th quarter worth approximately $169,000. Institutional investors 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.