Rewalk Robotics Ltd (NASDAQ:RWLK) shares are on fire this week. Following yesterday’s announcement by the Department of Veteran Affairs that they would be paying for the $77,000 Rewalk exoskeletons for vertans who have suffered paralysis, the stock jumped up over 100% during the trading day. Shares settled down a bit off of their highs, but today the uptrend has seemingly continued. Shares today are trading higher than they have in nearly nine months as investors continue to stream into the stock hoping that this is just the start of a trend that will see the company’s technology embraced on a large scale.
Shares of Rewalk Robotics Ltd (NASDAQ:RWLK) rose as high as $14.45 before losing some of those gains. The stock is currently trading higher by 22.00% or $2.42 following the positive news, hitting $13.42 per share at the time of us publishing this article. About 1.01 million shares traded hands or up 273.72% from the average. RWLK has declined 3.00% since May 15, 2015 and is currently downtrending. It has underperformed the S&P500 by 0.73%.
From a total of 2 analysts covering Rewalk Robotics (NASDAQ:RWLK) stock, 0 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $27 while the lowest target price is $9. The mean of all analyst targets is $18 which is 34.13% above today’s ($13.42) stock price. Rewalk Robotics was the topic of 5 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Zacks upgraded shares on September 8 to a “Hold” rating.
Rewalk Robotics Ltd is an Israel-based medical device company. The company has a market cap of $88.96 million. The Firm is engaged in designing, developing and commercializing exoskeletons that allow wheelchair-bound individuals with mobility impairments or other medical conditions the ability to stand and walk once again. It currently has negative earnings. The Firm has developed and is continuing to commercialize ReWalk, an exoskeleton that uses its patented tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement.