Rewalk Robotics (RWLK) Stock Price Gapped Up 14.8% on Upbeat Q3 Results

Rewalk Robotics Ltd (NASDAQ: RWLK) stock price gapped up 14.8% after reporting excellent Q3 revenues that beat analysts expectations.

The company generated revenues worth $1.97 million during the third quarter ended September, beating Zacks analysts’ estimates by 23.25%.

The company that manufactures robotic medical devices reported a quarterly loss of $0.06 per share, meeting analysts’ consensus estimates. In addition, the Q3 loss marked a significant improvement to the $0.18 loss per share reported in Q3 2020. 

Investors should note that the company has not surpassed analysts consensus estimates regarding its earnings per share over the past four quarters.

ReWalk recently received the breakthrough device designation from the US Food & Drug Administration (FDA) for its ReBoot device, a lightweight, battery-powered exo-suit meant to help people with reduced mobility walk again.

The FDA’s designation of the ReBoot device could help the company generate significant revenues when the device is commercialised.

The commercialisation of the device could lead to a surge in ReWalk Robotics share price driven by surging revenues from ReBoot sales. However, we can only speculate now until the company makes ReBoot’s sales figures public.

Meanwhile, long term investors looking to invest in ReWalk Robotics shares may find the current prices attractive.

However, as a short-term trader, I believe that the $1.24 support level provides a better entry opportunity, and I would wait for a pullback to that zone before jumping in.

Still, there are no guarantees that the price will fall back to that level in the future, but I’m okay waiting.  

*This is not investment advice. Always do your due diligence before making investment decisions. 

Rewalk Robotics stock price.

Rewalk Robotics stock price gapped up 14.77% to trade at $1.71 rising from Wednesday’s closing price of $1.49.

Is Now a Good Time to Invest In Rewalk Robotics Shares?

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