Myomo (NYSEAMERICAN:MYO) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Myomo (NYSEAMERICAN:MYO) in a research report released on Wednesday,Benzinga reports. They currently have a $7.50 price target on the stock. HC Wainwright also issued estimates for Myomo’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.03 EPS, FY2025 earnings at ($0.12) EPS, FY2026 earnings at $0.05 EPS, FY2027 earnings at $0.21 EPS and FY2028 earnings at $0.41 EPS.

Other research analysts have also issued research reports about the company. Ascendiant Capital Markets boosted their target price on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum began coverage on shares of Myomo in a research note on Wednesday, July 31st. They issued a “buy” rating and a $7.00 price objective on the stock.

Myomo Stock Down 3.9 %

MYO stock opened at $4.66 on Wednesday. The firm has a market capitalization of $140.97 million, a P/E ratio of -20.26 and a beta of 1.56. Myomo has a 12 month low of $2.51 and a 12 month high of $5.64.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Herr Investment Group LLC grew its stake in shares of Myomo by 72.9% during the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock worth $9,136,000 after purchasing an additional 1,200,244 shares during the period. Rosalind Advisors Inc. boosted its holdings in Myomo by 13.4% during the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock worth $12,116,000 after buying an additional 356,392 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Myomo by 40.2% during the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock worth $3,606,000 after buying an additional 257,749 shares during the period. Bailard Inc. purchased a new position in Myomo in the second quarter valued at about $109,000. Finally, Accel Wealth Management lifted its position in shares of Myomo by 6.0% during the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after acquiring an additional 2,500 shares during the period. 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.