Myomo, Inc. (NYSEAMERICAN:MYO) Short Interest Update
by Tristan Rich · The Markets DailyMyomo, Inc. (NYSEAMERICAN:MYO – Get Free Report) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 4,720,037 shares, a growth of 38.3% from the January 15th total of 3,411,768 shares. Based on an average trading volume of 597,938 shares, the days-to-cover ratio is currently 7.9 days. Currently, 12.9% of the shares of the stock are short sold. Currently, 12.9% of the shares of the stock are short sold. Based on an average trading volume of 597,938 shares, the days-to-cover ratio is currently 7.9 days.
Hedge Funds Weigh In On Myomo
A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Myomo by 5.1% during the 4th quarter. State Street Corp now owns 399,853 shares of the company’s stock valued at $364,000 after buying an additional 19,563 shares during the period. Wells Fargo & Company MN grew its position in Myomo by 103.1% during the fourth quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock valued at $35,000 after acquiring an additional 19,646 shares during the period. Jane Street Group LLC purchased a new stake in Myomo during the fourth quarter valued at about $64,000. Rosalind Advisors Inc. increased its stake in Myomo by 1.3% during the fourth quarter. Rosalind Advisors Inc. now owns 3,839,772 shares of the company’s stock worth $3,494,000 after acquiring an additional 48,984 shares during the last quarter. Finally, Nuveen LLC raised its holdings in shares of Myomo by 66.4% in the 4th quarter. Nuveen LLC now owns 370,325 shares of the company’s stock worth $337,000 after purchasing an additional 147,784 shares during the period. Institutional investors and hedge funds own 44.99% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets reduced their target price on shares of Myomo from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $7.67.
Read Our Latest Stock Analysis on Myomo
Myomo Trading Up 0.9%
NYSEAMERICAN:MYO traded up $0.01 during mid-day trading on Monday, reaching $0.82. The company’s stock had a trading volume of 171,333 shares, compared to its average volume of 451,938. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.49 and a quick ratio of 2.10. The stock has a market cap of $31.53 million, a P/E ratio of -2.83 and a beta of 1.17. The company’s fifty day simple moving average is $0.93 and its two-hundred day simple moving average is $1.00. Myomo has a twelve month low of $0.71 and a twelve month high of $6.30.
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.