Ekso Bionics (NASDAQ:EKSO) Downgraded to Sell at Zacks Investment Research

Ekso Bionics (NASDAQ:EKSO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Ekso Bionics Holdings, Inc. is engaged in designing, developing and selling wearable robots or exoskeletons for the medical, military, industrial and consumer markets. The company’s operating segment consists of Engineering Services and Medical segments. It operates primarily in North America, Western Europe, the Middle East and South Africa. Ekso Bionics Holdings, Inc. is headquartered in Richmond, California. “

A number of other analysts have also commented on the company. HC Wainwright cut their price target on Ekso Bionics from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 30th. ValuEngine upgraded Ekso Bionics from a “hold” rating to a “buy” rating in a report on Wednesday, December 30th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $8.56.

NASDAQ:EKSO traded down $0.34 on Wednesday, reaching $8.89. The company’s stock had a trading volume of 311,665 shares, compared to its average volume of 313,000. Ekso Bionics has a 1-year low of $2.25 and a 1-year high of $10.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.70 and a current ratio of 4.12. The firm has a market cap of $73.93 million, a PE ratio of -3.03 and a beta of 2.33. The business’s 50-day moving average price is $6.05 and its two-hundred day moving average price is $5.70.

Ekso Bionics (NASDAQ:EKSO) last posted its earnings results on Thursday, October 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $2.43 million. Ekso Bionics had a negative net margin of 140.82% and a negative return on equity of 201.69%. As a group, sell-side analysts expect that Ekso Bionics will post -1.18 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Ekso Bionics by 54,764.3% during the third quarter. Morgan Stanley now owns 153,620 shares of the company’s stock worth $729,000 after acquiring an additional 153,340 shares in the last quarter. Natixis purchased a new stake in Ekso Bionics during the third quarter valued at approximately $71,000. BlackRock Inc. lifted its position in Ekso Bionics by 70.9% during the third quarter. BlackRock Inc. now owns 80,135 shares of the company’s stock valued at $381,000 after acquiring an additional 33,248 shares during the last quarter. WINTON GROUP Ltd lifted its position in Ekso Bionics by 39.6% during the third quarter. WINTON GROUP Ltd now owns 27,759 shares of the company’s stock valued at $132,000 after acquiring an additional 7,872 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Ekso Bionics by 2,233.5% during the 2nd quarter. Bank of Montreal Can now owns 18,808 shares of the company’s stock valued at $138,000 after purchasing an additional 18,002 shares in the last quarter. Institutional investors and hedge funds own 14.06% of the company’s stock.

Ekso Bionics Company Profile

Ekso Bionics Holdings, Inc designs, develops, and sells exoskeletons for use in the healthcare, industrial, and military markets in the United States and internationally. The company operates in two segments, EksoHealth and EksoWorks. It primarily offers EksoNR, a bionic suit that provides the ability to stand and walk over ground with a full weight-bearing, reciprocal gait using a cane, crutches, or a walker to individuals with spinal cord injuries and hemiplegia due to stroke; and EksoUE, a wearable assistive device that helps to reduce the effect of gravity on the wearer's shoulders and arms, as well as reduce fatigue while rehabilitation sessions to achieve a larger active range of motion.

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