Ekso Bionics (NASDAQ:EKSO) Shares Cross Below 50-Day Moving Average – Time to Sell?

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.39 and traded as low as $8.69. Ekso Bionics shares last traded at $8.73, with a volume of 154,096 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EKSO shares. Wall Street Zen upgraded Ekso Bionics to a “hold” rating in a research report on Saturday, December 13th. HC Wainwright cut Ekso Bionics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ekso Bionics in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ekso Bionics currently has an average rating of “Reduce” and an average price target of $6.00.

Ekso Bionics Stock Performance

The company has a 50-day moving average price of $10.39 and a two-hundred day moving average price of $7.36. The stock has a market capitalization of $31.08 million, a P/E ratio of -1.70 and a beta of 0.77. The company has a quick ratio of 1.07, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

Insider Activity at Ekso Bionics

In other Ekso Bionics news, major shareholder Daniel Asher acquired 15,540 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was bought at an average price of $12.30 per share, with a total value of $191,142.00. Following the completion of the acquisition, the insider owned 270,432 shares of the company’s stock, valued at $3,326,313.60. This trade represents a 6.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EKSO. Virtu Financial LLC purchased a new position in shares of Ekso Bionics during the third quarter worth about $57,000. Shay Capital LLC purchased a new position in shares of Ekso Bionics during the third quarter worth about $67,000. Citadel Advisors LLC purchased a new position in shares of Ekso Bionics during the third quarter worth about $198,000. Geode Capital Management LLC grew its holdings in shares of Ekso Bionics by 68.9% during the fourth 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 in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in shares of Ekso Bionics during the third quarter worth about $333,000. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Ekso Bionics Company Profile

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.