EKSO BIONICS HOLDING (OTCBB:EKSO) stock recorded strong gains in the first week of last month. Thereafter, it lost its momentum and started moving south on the chart. For some time, the stock even dropped below the $1 per share mark and shortly recovered to trade around $1.3 per share.
In last few years, the company‘s return on assets has improved to beat the average median among its peers. It indicates that the firm has enhanced its relative business markedly. The relatively high pre-tax margins and median gross margin indicate ‘non-differentiated’ product portfolio but having tight cost control compared to peers.
EKSO stock may have managed to regain the $1 per share mark, but it is still having hard time to sustain its up move on the chart. In fact, the stock has declined more than 10% in last two trading sessions. On Friday, the stock declined 5.56% to close the week at $1.36. The decline came at a share volume of 809,935 compared to monthly average share volume of 535,501.
More recently, EKSO stock has been trading more on positive note and very much on anticipated lines. The company comes in the list of rare OTC firms that have reported sound financial numbers lately.
The last quarterly report of EKSO reveals that it registered a net loss of $5.6 million and revenue of $2.1 million in last quarter. The current liabilities were no less than $8.3 million while current assets stood at $22.1million. EKSO reported cash balance of $16.2 million, which suggests that company has adequate cash to carry out its operations. The company released the quarterly report for the second quarter in second week of August.
EKSO BIONICS HOLDING (OTCBB:EKSO) had been consolidating in the narrow range of $1.35-$1.50 for the last few sessions and finally the last session of the week saw a breakdown but a steep bounce found the stock ending the day inside the range as it closed with a steep loss of 5.56%. The 11% intraday bounce from the day low recovered a lot of the loss but it needs another bullish candle as a confirmation candle before any more upside can be seriously considered. The support area around $1.20 performed very well and as long as that holds up, the bulls can hope for a reversal.