Myomo Inc (NYSEAMERICAN:MYO) Short Interest Update

Myomo Inc (NYSEAMERICAN:MYO) was the target of a large increase in short interest in March. As of March 13th, there was short interest totalling 104,600 shares, an increase of 160.8% from the February 27th total of 40,100 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average daily volume of 608,500 shares, the days-to-cover ratio is currently 0.2 days.

In other Myomo news, CEO Paul R. Gudonis acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $6.99 per share, for a total transaction of $41,940.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

An institutional investor recently raised its position in Myomo stock. Renaissance Technologies LLC raised its holdings in shares of Myomo Inc (NYSEAMERICAN:MYO) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,929 shares of the company’s stock after buying an additional 139,550 shares during the period. Renaissance Technologies LLC owned about 70.49% of Myomo worth $122,000 as of its most recent SEC filing.

Separately, Ascendiant Capital Markets decreased their target price on shares of Myomo from $45.00 to $15.00 and set a “buy” rating for the company in a research report on Monday.

Shares of Myomo stock traded down $0.02 on Thursday, hitting $3.70. The company had a trading volume of 63,095 shares, compared to its average volume of 692,581. Myomo has a 52 week low of $2.82 and a 52 week high of $40.00.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($4.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.48) by ($0.33). The firm had revenue of $1.52 million for the quarter, compared to analyst estimates of $1.40 million.

Myomo Company Profile

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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