The stock price of EKSO BIONICS HOLDING (OTCBB:EKSO) fell substantially during Wednesday’s trading session for lack of information from the company’s end. The company that designs and sells robots in help people stand back on their feet lost ground on unavailability of any update that can propel investors’ interest.
The stock of the company declined by more than 10% to $1.69 during yesterday’s session, as only 1.01 million shares changed hands.
The most recent update
The only recent update that emerged from the company’s end was information pertaining to the appointment of Amy Wendell on the company’s Board. EKSO BIONICS HOLDING (OTCBB:EKSO) helped its share price rally following the announcement as investors welcomed Wendell’s appointment, given her experience in the healthcare field.
It is noteworthy that prior to joining Ekso’s board, Wendell served Covidien Pla (NYSE:COV) in the capacity of Senior VP of “Strategy and Business Development”. During her tenure with Covidien, Wendell was instrumental in executing several acquisition plans, which comprised of players with advanced technologies in the field of healthcare. Wendell’s robust portfolio at Covidien sent reassurance to EKSO BIONICS HOLDING (OTCBB:EKSO)’s investors that she will follow the suit at the new company.
Investors are wary
While investors are keen on learning about the company’s forward plans following the appointment, the recent financial results released by EKSO BIONICS HOLDING (OTCBB:EKSO) has been unimpressive. As per the report for the period ended on December 31, 2014, the company managed to increase its total revenue from $3 million to $5 million year-over-year.
However, the company’s excessive operating expenses have led its net profit into the negative zone, which stood at $33 million as against $11 million, a year ago. Clearly, the company’s weak financials coupled with the scarcity of any new progress is making its investors wary. Thus, it is need of the hour for the company to keep the information flowing in order to sustain.
