Rewalk Robotics (NASDAQ:RWLK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with spinal cord injury. The Company’s exoskeletons allow wheelchair-bound individuals with mobility impairments or other medical conditions the ability to stand and walk once again. It offers ReWalk Personal for everyday use to individuals at home and in their communities; and ReWalk Rehabilitation for exercise and therapy to individuals with lower limb disabilities in the clinical rehabilitation environment. ReWalk Robotics Ltd. is headquartered in Yokneam Ilit, Israel. “
Several other equities research analysts have also issued reports on the company. Oppenheimer set a $3.00 price objective on Rewalk Robotics and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Rewalk Robotics in a research note on Monday, November 6th. Finally, Jefferies Group lowered their price objective on Rewalk Robotics from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $2.80.
Rewalk Robotics (NASDAQ:RWLK) last posted its quarterly earnings data on Thursday, November 2nd. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.63 million. Rewalk Robotics had a negative return on equity of 568.25% and a negative net margin of 346.14%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the company earned ($0.62) EPS. research analysts anticipate that Rewalk Robotics will post -1.14 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in shares of Rewalk Robotics by 1,495.6% during the 3rd quarter. Advisor Group Inc. now owns 181,900 shares of the medical device company’s stock worth $264,000 after acquiring an additional 170,500 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of Rewalk Robotics by 328.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 156,981 shares of the medical device company’s stock worth $228,000 after acquiring an additional 120,362 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Rewalk Robotics by 61.7% during the 1st quarter. Renaissance Technologies LLC now owns 78,600 shares of the medical device company’s stock worth $165,000 after acquiring an additional 30,000 shares during the last quarter. 3.23% of the stock is owned by hedge funds and other institutional investors.
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About Rewalk Robotics
ReWalk Robotics Ltd. is a medical device company. The Company is engaged in designing, developing and commercializing exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The Company offers ReWalk, which is an exoskeleton that uses its tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement.
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