Rewalk Robotics Ltd (RWLK) Shares Drop After Triple Digit Gains

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Shares of Rewalk Robotics Ltd (NASDAQ:RWLK) are trading down today after a stellar week last week. After news came in on Thursday that the Department of Veteran Affairs would be funding Rewalk’s exoskeleton suits for paralyzed veterans, the share price exploded. In just two trading days the stock went from $6 per share all the way up to $14.70 as investors rushed into the stock trying to cash in on the news. On Monday the stock leveled off some, and it appears as if today is one for profit taking. It will be intersting to see if there is another leg up after weak hands sell out, or if shares may have already peaked in the short run.

The stock is down 2.50% or $0.34 following the news, hitting $13.27 per share. Approximately 16,945 shares traded hands. RWLK shares have risen 23.28% since May 19, 2015 and are currently uptrending. It has outperformed the S&P500 by 25.54%.

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 35.64% above today’s ($13.27) 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 $159.96 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.

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