Rewalk Robotics Ltd (NASDAQ:RWLK)
Rewalk Robotics Ltd (NASDAQ:RWLK) shares jumped 44% and RWLK ended the day at $1.80 after closing yesterday at $1.25. Volumes were heavy. RWLK have a listed 30-day, daily average trading volume of just over 150,000 but today more than 4.8 million shares traded hands.
Today Larry Jasinski, CEO of Rewalk Robotics Ltd (NASDAQ:RWLK), and collaborators form Harvard’s Wyss Institute for Biologically Inspired Engineering, premiered a prototype for a soft suit exoskeleton intended to assist stroke survivors.
Rewalk Robotics Ltd (NASDAQ:RWLK) is working with the Wyss Institute on the development of lightweight designs to complete clinical studies, pursue regulatory approvals and commercialize the systems on a global scale. The first commercial application will be for stroke survivors, followed by Multiple Sclerosis patients and then additional applications. There are an estimated 3 million stroke survivors with a lower limb disability in the U.S.
The exoskeleton transmits power to key joints of the legs with cable technologies. The functionality is powered by software and mechanics that are similar to the technologies used in the ReWalk exoskeleton system for individuals with spinal cord injury. The cables are connected to fabric-based designs that attach to the legs and foot, thus lending the name “soft suit.”
Shares of Rewalk Robotics Ltd (NASDAQ:RWLK) have performed well in the short term. RWLK shares have gained 44% over the past month and over 56% over the past week. However RWLK shares are down over 35% YTD and down over 73% for the year. EPS losses have been trending in the wrong direction as well. In 2012 shareholders of Rewalk Robotics Ltd (NASDAQ:RWLK) lost $0.67 per share and that loss expanded to -$2.47 in 2016. However sales have trended positively. In 2012 sales were reported at $1 million and in 2016 that number was $5.9 million. The consensus target price for RWLK shares is $4.90.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.