Myomo (NYSEAMERICAN:MYO) Given New $9.00 Price Target at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYO) had its price target hoisted by stock analysts at Ascendiant Capital Markets from $8.50 to $9.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target points to a potential upside of 89.47% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Craig Hallum began coverage on shares of Myomo in a research note on Wednesday, July 31st. They set a “buy” rating and a $7.00 target price on the stock. HC Wainwright lifted their target price on shares of Myomo from $6.50 to $7.50 and gave the company a “buy” rating in a research note on Monday, August 12th.

Myomo Stock Performance

Shares of Myomo stock opened at $4.75 on Tuesday. The firm has a market cap of $143.69 million, a PE ratio of -21.00 and a beta of 1.56. Myomo has a 1-year low of $2.25 and a 1-year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $9.21 million for the quarter, compared to analysts’ expectations of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. As a group, equities analysts expect that Myomo will post -0.17 EPS for the current fiscal year.

Institutional Trading of Myomo

Hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. bought a new stake in shares of Myomo in the 3rd quarter worth about $90,000. Bailard Inc. bought a new stake in shares of Myomo in the 2nd quarter worth about $109,000. Accel Wealth Management increased its holdings in shares of Myomo by 6.0% in the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after buying an additional 2,500 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Myomo in the 3rd quarter worth about $200,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Myomo by 60.8% in the 3rd quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock worth $414,000 after buying an additional 39,085 shares during the last quarter. Hedge funds and other institutional investors own 44.99% of the company’s stock.

About Myomo

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.