Only three weeks ago we noted that the exoskeleton industry had made a number of significant advancements recently (“A Step in the Right Direction“). Since then one of our three exoskeleton stocks, Ekso Bionics (EKSO), got another big boost when it announced earlier this week that it received FDA approval to market its GT robotic exoskeleton unit for use in the treatment of stroke and spinal cord injuries. The company went on to note in its press release that its product “is the first exoskeleton cleared by the FDA for use with stroke patients.”

It didn’t take long for the stock market to recognize the long term implications of this development. After closing last Friday at 73 cents, Ekso’s share price jumped to 87 cents on Monday after the announcement, and today has traded above $1 for an increase of 38% in less than a week. Today’s trading volume is already about ten times the average daily amount, suggesting a large investor is buying up shares on this news. 

If you’re wondering if its too late to get into the game, when we first recommended EKSO last June it was trading at $1.25, so the recent run-up still doesn’t get it back above where it was only nine months ago. It looks like the stock has finally bottomed out, and we continue to recommend EKSO as a long term buy up to $2 for speculative investors looking for a pure play on the exoskeleton market.