Earlier in August, the stock price of EKSO BIONICS HOLDING (OTCBB:EKSO) posted strong gains on the chart, but then went on to decline before falling below the $1 mark. The stock managed to recover the losses quickly, but it faced little bumps last week. More recently, EKSO stock has been performing rather strong. It is not surprising, especially when EKSO comes in the list of OTC firms that have recorded best numbers in the balance sheets.
As per the latest report, the cash reserves stood at $16.2 million. EKSO posted current assets of $22.1 million against current liabilities of $8.3 million. The revenue in quarter came at $2.1 million and net loss was $5.6 million. After all, EKSO Bionics is working together with the U.S. government on the significant TALOS project and as of now is offering exoskeletons for medical applications. It might be the prime reason EKSO is once again moving up on the charts, and this development is noteworthy as there is no promising PR issued from the company.
Yesterday, the stock price jumped another 10.69% after it was promoted by Seraphim Strategies, a paid outfit. The market recorded a total of 1.90 million shares volume as EKSO made a close of $1.45. However, the current market cap of over $133 million indicates that investors should perform due diligence and consider all the risks before investing on the line.
EKSO manufactures and sells human wearable bionic devices popularly known as exoskeletons. These devices are used in various industries including consumer, military, healthcare and industrial markets. The systems are worn over the clothing to provide strength, mobility and endurance.
EKSO BIONICS HOLDING (OTCBB:EKSO) ended the last trading session with a solid gain of 10.69% but the final closing price of $1.45 was almost 8% lower from the day high, creating a long upper shadow on the daily candle. That kind of shadow generally implies price rejection at the higher levels though it’s not any outright bearish signal. The volume of 1.8 million was much higher than the daily average of 590,000, indicating some serious buying. Any correction now may expect to find strong support at the previous breakout levels of $1.30 and $1.20. The uptrend will get weak only below $1.20.