Ekso Bionics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Ekso Bionics (EKSO) to Neutral from Buy without a price target after the company entered into a non-binding merger agreement with Applied Digital Cloud (APLD). The firm finds it “prudent” for Ekso to enter into the transaction given the “tough financial environment.” It downgrades the shares, saying Ekso Bionics is moving away from its core business strategy of commercializing exoskeleton for health and industrial purposes.