Myomo Inc (NYSEAMERICAN:MYO) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 545,305 shares, a decline of 10.3% from the January 15th total of 608,064 shares. Based on an average trading volume of 47,869 shares, the days-to-cover ratio is currently 11.4 days. Currently, 5.3% of the shares of the company are sold short.
A number of research analysts recently commented on the company. Roth Capital restated a “buy” rating on shares of Myomo in a research note on Tuesday, February 5th. Zacks Investment Research downgraded Myomo from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th.
An institutional investor recently raised its position in Myomo stock. Bank of New York Mellon Corp increased its stake in shares of Myomo Inc (NYSEAMERICAN:MYO) by 87.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.
Shares of MYO opened at $1.33 on Tuesday. Myomo has a 12 month low of $1.30 and a 12 month high of $5.52.
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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.
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