Myomo (NYSEAMERICAN:MYO) Issues Quarterly Earnings Results

Myomo (NYSEAMERICAN:MYO) released its quarterly earnings data on Thursday. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02, Morningstar.com reports. The company had revenue of $0.88 million during the quarter, compared to analyst estimates of $1.09 million.

Shares of MYO traded down $0.04 during mid-day trading on Friday, hitting $0.78. 53,175 shares of the company’s stock were exchanged, compared to its average volume of 80,952. Myomo has a twelve month low of $0.66 and a twelve month high of $2.69.

A hedge fund recently bought a new stake in Myomo stock. ICM Asset Management Inc. WA acquired a new position in shares of Myomo Inc (NYSEAMERICAN:MYO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 266,000 shares of the company’s stock, valued at approximately $319,000. ICM Asset Management Inc. WA owned 1.56% of Myomo at the end of the most recent quarter.

MYO has been the topic of several research reports. Zacks Investment Research lowered shares of Myomo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Ascendiant Capital Markets initiated coverage on shares of Myomo in a research note on Tuesday, July 30th. They issued a “buy” rating and a $2.00 price objective on the 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. 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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Earnings History for Myomo (NYSEAMERICAN:MYO)

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