The actions of ReWalk Robotics Ltd. (RWLK) soared in pre-market: here’s why
The actions of ReWalk Robotics Ltd. (RWLK) were skyrocketing in pre-market trading for no specific reason. The RWLK share price has risen 20.77% to $ 1.57 per share at the time of writing. The stock was sluggish on the previous trade and fell 3.70% at the close. Let’s talk more about this stock.
ReWalk Robotics Ltd is an Israel-based medical company that designs, develops and markets wearable robotic exoskeletons for dealing with mobility disorders.
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RWLK share financial results for the second quarter of 2021:
ReWalk Robotics announced second quarter 2021 financial results on August 9, 2021, according to which
- RWLK stock generated sales of $ 1.4 million in the quarter. This compares to $ 1.7 million in revenue in the same quarter last year.
- The stock’s gross margin increased from 60% in Q2 2020 to 51% in Q2 2021 due to a change in the mix of sales and service costs.
- RWLK stock suffered a net loss of $ 3.1 million in the second quarter of 2021. The net loss for the same quarter of the previous year was $ 2.9 million.
- ReWalk reported a non-GAAP net loss of $ 2.9 million in the second quarter of 2021, up from $ 2.7 million in the second quarter of 2020.
- Operating expenses reached $ 3.9 million in the second quarter of 2021, compared to $ 3.6 million in the same quarter last year.
- At the end of the second quarter, RWLK stock had $ 64.2 million in cash on its balance sheet.
- The quarterly loss was $ 0.07 per share, compared to $ 0.06 per share according to the Zack Consensus estimate. The stock has not beaten the consensus EPS estimate over the past four quarters.
New appointment by RWLK stock:
On August 2, 2021, ReWalk Stock announced the appointment of Jeannine Lynch as Vice President of Strategy and Market Access. He joined the company on August 31, 2021. His primary responsibility is to complete the construction and implementation of the RWLK stock market access and redemption programs. Prior to joining, Ms. Lynch served BioMarin Pharmaceuticals as Senior Director of Patient Access Services.
The ReWalk share price recorded considerable highs during the pre-market today despite no news. Weak sales of its Personal 6.0 units resulted in lower revenues in the second quarter, partially offset by the Myolyn and ReStore transactions. The management of the ReWalk park wishes to extend its resources by emphasizing a wider coverage.