Myomo (MYO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Myomo (NYSEAMERICAN:MYO) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Myomo, Inc. is a commercial stage medical robotics company. It offers expanded mobility which suffering from neurological disorders and upper limb paralysis. The company develops and markets the MyoPro(R) product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals. Myomo, Inc. is headquartered in Cambridge,Massachusetts. “

Separately, HC Wainwright set a $12.00 price target on Myomo and gave the stock a buy rating in a research note on Tuesday, August 14th.

Shares of MYO opened at $2.31 on Wednesday. Myomo has a 12 month low of $1.74 and a 12 month high of $11.40.

Myomo (NYSEAMERICAN:MYO) last issued its earnings results on Tuesday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Myomo had a negative net margin of 257.70% and a negative return on equity of 155.42%. The business had revenue of $0.63 million for the quarter, compared to analysts’ expectations of $0.62 million.

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its stake in shares of Myomo by 243.9% in the 1st quarter. Citadel Advisors LLC now owns 40,861 shares of the company’s stock worth $121,000 after buying an additional 28,981 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Myomo in the 1st quarter worth $277,000. Finally, Account Management LLC purchased a new position in shares of Myomo in the 2nd quarter worth $312,000.

Myomo Company Profile

Myomo, Inc, a commercial stage medical robotics company, designs, develops, and produces myoelectric braces or orthotics for people suffering with neuromuscular disorders in the United States. It offers MyoPro, a powered upper limb orthosis that supports the arm, as well as restores function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain injury, spinal cord injury, ALS, or other neuromuscular disease or injury.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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