Ekso Bionics (NASDAQ:EKSO) stock is taking a beating on Tuesday following the release of the exoskeleton company’s second-quarter earnings report.
The bad news for Ekso Bionics starts with its diluted earnings per share of -13 cents. That’s worse than the -11 cents per share Wall Street was expecting. Even if it’s an improvement over the company’s -31 cents per share from the same period of the year prior.
Also not helping matters is Ekso Bionics’ revenue of $4.95 million for the quarter. Yet again, that’s worse than the $5.17 million analysts were expecting from the company. Even if it’s up 5% year-over-year from $4.7 million.
Ekso Bionics CEO Scott Davis said the following in the Q2 earnings report:
“With the Medicare reimbursement mechanisms in place, we are focused on reaching a larger U.S. population of individuals living with a spinal cord injury (“SCI”) and anticipate increased demand for Ekso Indego Personal in the second half of the year and longer term.”
How This Affects EKSO Stock
Ekso Bionics stock isn’t seeing much trading activity this morning despite the lackluster earnings report. This has about 12,000 shares changing hands as of this writing. That’s still well below its daily average trading volume of about 55,000 shares.
EKSO stock is down 15.2% as of Tuesday morning. The stock was also down 52.1% year-to-date when markets closed yesterday.
Investors seeking out more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news ready to go on Tuesday! A few examples include what’s happening with shares of QXO (NASDAQ:QXO) and Enveric Biosciences (NASDAQ:ENVB) stock, as well as the biggest pre-market stock movers this morning. All of that info is ready at the links below!
More Tuesday Stock Market News
- Why Is QXO (QXO) Stock Down 80% Today?
- Why Is Enveric Biosciences (ENVB) Stock Up 18% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
