The stock price of EKSO BIONICS HOLDING (OTCBB:EKSO) recorded strong first week last month. However, it started to decline in the following weeks, dropped below the crucial $1 per share and then recovered to close around $1.5 per share.
EKSO stock managed to recoup its losses quickly, but again faced hiccup in yesterday’s trading session. The stock declined more than 4% to close the trading session at $1.39. More recently, the stock performance has been good, and it is very much on expected lines. EKSO comes in the list of penny stock firms that have some reported some sound financial numbers lately.
As per the last report, the company reported net loss of $5.6 million while quarterly revenue was $2.1 million. The current liabilities stood at $8.3 million whereas current assets were $22.1million. Also, the cash reserve came at $16.2 million, which indicates that EKSO is not a cashless OTC company.
EKSO submitted the financial report for 2Q2015 on August 12. However, some investors were slightly disappointed from numbers and things turned soar when the analyst firm Zacks downgraded the company’s stock to a “sell” rating from a “hold” rating.
The readers should not forget that there is something really to cheer about the company. EKSO is associated with the U.S. government on the major TALOS project. It is even supplying exoskeletons for medicinal use. This development surrounding the company is one of the reasons why investors should be interested in EKSO stock.
EKSO BIONICS HOLDING (OTCBB:EKSO) designs and develops robotic exoskeletons that have numerous applications right from military to medical use to industrial applications. With increasing competition, the company has to make sure that it keeps on updating its technology so that its exoskeletons demand remains robust in the coming period.