Ekso Bionics (NASDAQ:EKSO) Shares Cross Below 50-Day Moving Average – Time to Sell?

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $10.39 and traded as low as $8.69. Ekso Bionics shares last traded at $8.73, with a volume of 154,096 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EKSO. HC Wainwright downgraded shares of Ekso Bionics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 31st. Wall Street Zen raised shares of Ekso Bionics to a “hold” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ekso Bionics in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ekso Bionics presently has an average rating of “Reduce” and a consensus target price of $6.00.

Ekso Bionics Stock Down 3.6%

The stock has a 50 day moving average of $10.39 and a 200-day moving average of $7.36. The firm has a market capitalization of $31.08 million, a P/E ratio of -1.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.63.

Insider Transactions at Ekso Bionics

In other news, major shareholder Daniel Asher acquired 15,540 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average cost of $12.30 per share, for a total transaction of $191,142.00. Following the purchase, the insider owned 270,432 shares of the company’s stock, valued at approximately $3,326,313.60. The trade was a 6.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Ekso Bionics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp bought a new stake in Ekso Bionics in the 3rd quarter valued at about $333,000. Geode Capital Management LLC raised its stake in Ekso Bionics by 68.9% in the 4th quarter. Geode Capital Management LLC now owns 25,212 shares of the company’s stock valued at $218,000 after acquiring an additional 10,281 shares during the period. Citadel Advisors LLC bought a new stake in Ekso Bionics in the 3rd quarter valued at about $198,000. Shay Capital LLC bought a new stake in shares of Ekso Bionics during the third quarter valued at about $67,000. Finally, Virtu Financial LLC bought a new stake in shares of Ekso Bionics during the third quarter valued at about $57,000. 6.42% of the stock is currently owned by institutional investors.

About Ekso Bionics

Ekso Bionics Holdings, Inc (NASDAQ:EKSO) is a leading developer of wearable bionic exoskeletons designed to enhance human mobility and strength. Headquartered in Richmond, California, the company was founded in 2005 (originally as Berkeley Bionics) and completed its initial public offering in 2014. Its patented robotic systems support both rehabilitation and industrial applications by providing powered, adjustable assistance for a range of movement tasks.

In the medical sector, Ekso Bionics offers externally worn exoskeletons such as the EksoNR and EksoGT, which assist patients recovering from stroke, spinal cord injury or other neurological conditions.