Last week was more of a quite week for EKSO BIONICS HOLDING (OTCBB:EKSO) stock as it hardly moved on either side on the chart. However, yesterday the stock gained some momentum and jumped more than 5% to start the week in deep green. The gains came at a share volume of 527,136 compared to average share volume of 522,920.
EKSO comes in the group of new firms that are making noise in digital technology industry. The OTC listed firm owns a product believed to excel into numerous industries like consumer and military. Trading at $1.41 a share with an average volume of 522,920, the company markets wearable bionic exoskeletons that are used for multiple purposes. This range of products enhances human strength, endurance, and mobility.
The product can be used for enhancing military tactics as well as helping the disabled people. Ekso Bionics came in focus after it reported a latest software upgrade few months ago. Also, the company’s CEO presented the highlights of business on FOX Business Network in August.
Ekso Bionics recorded remarkable performance in the second half of August after it plunged below $1 for short period, touching the lowest level of the year. The stock price managed to recoup its decline and even moved up firmly on the chart, making a high of $1.45 in late August. This strong momentum was a result of nothing in particular and it was very much expected, given the impressive financial numbers revealed in 2Q2015 financial report.
As per the latest report, EKSO had reserves of $16.2 million with $22.1 million in current assets. The current liabilities came at $8.3 million and revenue was $2.1 million.
Yesterday, EKSO BIONICS HOLDING (OTCBB:EKSO) broke above the extreme short term range established in the narrow band of $1.30-$1.40 in the last few sessions and finished the last trading session with a solid gain of 5.22%. The volume of the day at 527,000 was not much higher compared to the daily average of 559,000, indicating some restraint shown by the investors even now. Both the volume and volatility may expand in the next couple of sessions as the stock is very close to the long term trendline resistance, as shown on the chart attached. The next major direction of the stock will be determined this week.