What’s the reason behind the rising ReWalk Robotics Ltd. (RWLK) stock in the premarket?

Shares of the ReWalk Robotics Ltd. (RWLK) stock were rising in the premarket today on October 8, 2021. RWLK stock price saw a push of 2.96% to reach $1.40 a share at the time of this writing. The stock was also green in the previous trade and went up by 1.50% at closing. Let’s take a closer look at this stock and understand the reason behind this rally.

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What’s Happening?

There is no specific news, announcement, or press release by the ReWalk stock associates with the increasing per-share price of this stock. No analyst has recently upgraded or increased the targeted per share price of this stock. It seems that Reddit rally and discussions among investors in other social media platforms are driving the RWLK stock high.

For those who don’t know what really ReWalk Robotics is, it is an Israel-based medical device company that is engaged in developing and commercializing medical devices for various medical conditions.

RWLK stock announced a $32.5 million registered direct offering:

RWLK stock announced its agreements with certain institutional investors on September 27, 2021, in order to issue 16,013,518 of its ordinary shares. RWLK issued these shares under the registered direct offering priced at the market under Nasdaq rules at $2.035 per share purchase price. It also issued unregistered warrants to investors to purchase up to 8,006,759 ordinary shares in a concurrent private placement.  The offering closed on September 29, 2021, and resulted in $32.5 million in net proceeds. RWLK intends to use net proceeds in sales and marketing expenses, research and development, routine product updates, general corporate purposes, and Future acquisitions.

Financial View of RWLK stock:

Back in August, RWLK stock announced second-quarter 2021 financial results according to which

  • The company reported $1.4 million in total revenue for the second quarter, compared to $1.7 million in the same prior-year quarter.
  • The gross margin of the RWLK stock was 51% as compared to 61% in the same tenure of the previous year.
  • ReWalk stock spent $3.9 million in operating expenses in the reported quarter, compared to $3.6 million in the same prior-year period.
  • The company suffered a net loss of $3.1 million in Q2,2021, $0.2 million higher than the same tenure of the previous year.
  • Non-GAAP net loss reached $2.9 million in Q2,2021 from $2.7 million in Q2,2020.
  • ReWalk stock had $64.2 million in cash balance by the end of the second quarter of 2021.


The momentum is going well for RWLK stock in the Nasdaq stock market so far but it would be interesting to see how long it will persist. From an investment perspective, investors should do technical as well as fundamental analysis before making any decision.