Zacks Investment Research Lowers ReWalk Robotics (NASDAQ:RWLK) to Hold

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, Zacks.com reports.

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. “

Separately, HC Wainwright reiterated a “buy” rating and set a $3.50 price objective on shares of ReWalk Robotics in a report on Friday, November 12th.

NASDAQ RWLK opened at $1.20 on Thursday. The firm has a market cap of $74.95 million, a P/E ratio of -3.43 and a beta of 2.99. The stock’s 50-day moving average is $1.33 and its 200-day moving average is $1.41. ReWalk Robotics has a one year low of $1.16 and a one year high of $6.00.

ReWalk Robotics (NASDAQ:RWLK) last posted its quarterly earnings data on Thursday, November 11th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $1.97 million during the quarter, compared to the consensus estimate of $1.60 million. ReWalk Robotics had a negative return on equity of 18.93% and a negative net margin of 198.97%. During the same period last year, the company earned ($0.18) earnings per share. As a group, analysts anticipate that ReWalk Robotics will post -0.24 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC grew its stake in ReWalk Robotics by 109.5% in the second quarter. HighTower Advisors LLC now owns 44,000 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 23,000 shares in the last quarter. Jane Street Group LLC bought a new position in ReWalk Robotics in the third quarter valued at approximately $89,000. Goldman Sachs Group Inc. bought a new position in ReWalk Robotics in the second quarter valued at approximately $95,000. Advisor Group Holdings Inc. grew its stake in ReWalk Robotics by 368.0% in the second quarter. Advisor Group Holdings Inc. now owns 424,507 shares of the medical device company’s stock valued at $717,000 after purchasing an additional 333,800 shares in the last quarter. Finally, CVI Holdings LLC bought a new position in ReWalk Robotics in the third quarter valued at approximately $896,000. Institutional investors and hedge funds own 11.63% of the company’s stock.

ReWalk Robotics Company Profile

ReWalk Robotics Ltd. Is a medical device company, which engages in the design, development and marketing of wearable robotic exoskeletons. The firm’s exoskeletons provide hip and knee motion to enable individuals with spinal cord injury (SCI) to stand upright, walk, turn, and climb and descend stairs.

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