Myomo (NYSEAMERICAN:MYO) Trading 6.3% Higher

Myomo Inc (NYSEAMERICAN:MYO)’s stock price traded up 6.3% on Wednesday . The stock traded as high as $0.90 and last traded at $0.84, 274,918 shares were traded during mid-day trading. An increase of 234% from the average session volume of 82,338 shares. The stock had previously closed at $0.79.

Several equities analysts recently weighed in on the stock. Ascendiant Capital Markets assumed coverage on shares of Myomo in a research note on Tuesday. They issued a “buy” rating and a $2.00 target price for the company. Zacks Investment Research downgraded Myomo from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. The business had revenue of $0.83 million for the quarter, compared to analyst estimates of $0.86 million.

A hedge fund recently raised its stake in Myomo stock. Bank of New York Mellon Corp lifted its position in shares of Myomo Inc (NYSEAMERICAN:MYO) by 87.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,925 shares of the company’s stock after buying an additional 21,925 shares during the quarter. Bank of New York Mellon Corp owned about 0.38% of Myomo worth $68,000 as of its most recent SEC filing.

About Myomo (NYSEAMERICAN:MYO)

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

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