Ekso Bionics (NASDAQ:EKSO) Shares Cross Above 50 Day Moving Average – Here’s Why

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.79 and traded as high as $12.30. Ekso Bionics shares last traded at $11.17, with a volume of 96,908 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on EKSO shares. HC Wainwright lowered shares of Ekso Bionics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 31st. Wall Street Zen upgraded shares of Ekso Bionics to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Ekso Bionics in a report on Monday, December 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $6.00.

Ekso Bionics Price Performance

The company has a fifty day moving average price of $9.79 and a two-hundred day moving average price of $6.64. The firm has a market capitalization of $39.77 million, a PE ratio of -2.17 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other news, major shareholder Daniel Asher acquired 15,540 shares of Ekso Bionics stock in a transaction on Thursday, February 19th. The stock was bought at an average price of $12.30 per share, for a total transaction of $191,142.00. Following the completion of the purchase, the insider owned 270,432 shares in the company, valued at $3,326,313.60. This represents a 6.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Ekso Bionics

A number of institutional investors have recently modified their holdings of EKSO. Virtu Financial LLC acquired a new position in shares of Ekso Bionics in the 3rd quarter valued at $57,000. Shay Capital LLC acquired a new stake in Ekso Bionics during the 3rd quarter worth $67,000. Citadel Advisors LLC purchased a new position in Ekso Bionics during the 3rd quarter worth $198,000. Geode Capital Management LLC grew its position in Ekso Bionics by 68.9% during the 4th quarter. Geode Capital Management LLC now owns 25,212 shares of the company’s stock worth $218,000 after purchasing an additional 10,281 shares during the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in Ekso Bionics in the third quarter valued at $333,000. 6.42% of the stock is owned by institutional investors and hedge funds.

About Ekso Bionics

Ekso Bionics Holdings, Inc (NASDAQ:EKSO) is a leading developer of wearable bionic exoskeletons designed to enhance human mobility and strength. Headquartered in Richmond, California, the company was founded in 2005 (originally as Berkeley Bionics) and completed its initial public offering in 2014. Its patented robotic systems support both rehabilitation and industrial applications by providing powered, adjustable assistance for a range of movement tasks.

In the medical sector, Ekso Bionics offers externally worn exoskeletons such as the EksoNR and EksoGT, which assist patients recovering from stroke, spinal cord injury or other neurological conditions.