MYO Stock Summary and Trading Ideas (Myomo | AMEX:MYO)

Myomo Inc is a wearable medical robotics company that develops, designs, and produces myoelectric orthotics for people with neuromuscular disorders. The MyoPro myoelectric upper limb orthosis product is registered with the Food and Drug Administration as a Class II medical device. The Company provides the devices to patients and bills their insurance companies directly, sometimes utilizing the clinical services of orthotics and prosthetics providers for which a fee is paid. The Company sells the product to orthotics and prosthetics providers around the world and the Veterans Health Administration (VA).

Myomo trades on the AMEX stock market under the symbol MYO.

As of April 24, 2024, MYO stock price declined to $3.44 with 70,057 million shares trading.

MYO has a beta of 2.48, meaning it tends to be more sensitive to market movements. MYO has a correlation of 0.07 to the broad based SPY ETF.

MYO has a market cap of $98.00 million. This is considered a Micro Cap stock.

Last quarter Myomo reported $5 million in Revenue and -$.07 earnings per share. This fell short of revenue expectation by $-34,000 and missed earnings estimates by -$.01.

In the last 3 years, MYO stock traded as high as $14.35 and as low as $.37.

The top ETF exchange traded funds that MYO belongs to (by Net Assets): VTI, VXF.

MYO has outperformed the market in the last year with a price return of +412.7% while the SPY ETF gained +24.2%. However, in the short term, MYO had mixed performance relative to the market. It has underperformed in the last 3 months, returning -10.6% vs +4.6% return in SPY. But in the last 2 weeks, MYO shares have fared better than the market returning +9.9% compared to SPY -2.7%.

MYO support price is $3.33 and resistance is $3.75 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MYO stock will trade within this expected range on the day.