Ekso Bionics (EKSO) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Ekso Bionics (NASDAQ:EKSO) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $2.25 price target on the stock.

According to Zacks, “Ekso Bionics Holdings, Inc. is engaged in designing, developing and selling wearable robots or exoskeletons for the medical, military, industrial and consumer markets. The company’s operating segment consists of Engineering Services and Medical segments. It operates primarily in North America, Western Europe, the Middle East and South Africa. Ekso Bionics Holdings, Inc. is headquartered in Richmond, California. “

Separately, ValuEngine cut shares of Ekso Bionics from a buy rating to a hold rating in a report on Tuesday, October 2nd.

EKSO stock opened at $1.80 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. Ekso Bionics has a 52-week low of $1.24 and a 52-week high of $3.30.

Ekso Bionics (NASDAQ:EKSO) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Ekso Bionics had a negative net margin of 303.58% and a negative return on equity of 257.70%. The firm had revenue of $2.55 million for the quarter, compared to the consensus estimate of $2.86 million. Research analysts expect that Ekso Bionics will post -0.45 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EKSO. Vanguard Group Inc. grew its position in shares of Ekso Bionics by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,745,819 shares of the company’s stock valued at $4,085,000 after purchasing an additional 103,277 shares during the period. Citadel Advisors LLC grew its position in shares of Ekso Bionics by 136.9% in the third quarter. Citadel Advisors LLC now owns 45,027 shares of the company’s stock valued at $105,000 after purchasing an additional 26,017 shares during the period. EAM Investors LLC purchased a new stake in shares of Ekso Bionics in the third quarter valued at $687,000. Finally, Bristol Advisors LLC purchased a new stake in shares of Ekso Bionics in the third quarter valued at $107,000. Institutional investors and hedge funds own 38.40% of the company’s stock.

About Ekso Bionics

Ekso Bionics Holdings, Inc designs, develops, and sells exoskeletons for use in the healthcare, industrial, and military markets in North America, Europe, the Middle East, and Africa. The company operates through Medical Devices, Industrial Sales, and Engineering Services segments. It primarily offers Ekso GT, a bionic suit that provides the ability to stand and walk over ground with a reciprocal gait using a cane, crutches, or a walker to individuals with spinal cord injuries, hemiplegia due to stroke, and lower limb paralysis or weakness.

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