Richner Randel, a director at Lifeward Ltd. (NASDAQ:LFWD), recently sold 4,285 ordinary shares in the open market, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $1.6836 each, totaling approximately $7,214. Following this transaction, Randel holds 21,567 shares indirectly through an Employee Stock Ownership Plan (ESOP). The sale comes amid a challenging period for Lifeward's stock, which has declined over 62% in the past six months and currently trades near its 52-week low of $1.51.
The shares sold were held in the Richner-Russell Family Trust, of which Randel and her spouse are co-trustees. The reported number of shares has been adjusted to account for Lifeward's 1-for-7 reverse share split that took effect on March 15, 2024. According to InvestingPro analysis, Lifeward appears undervalued at its current market cap of $14.09M, with multiple growth indicators available to subscribers. Discover 15+ additional exclusive insights and real-time metrics with InvestingPro.
In other recent news, Lifeward Ltd. has reported Q2 earnings, meeting revenue expectations with $6.7 million and posting a smaller-than-anticipated net loss per share of $0.50. Additionally, Lifeward is set to sell AlterG products directly in Germany, a strategic move expected to enhance the company's revenue and profit margins in the region. Following these developments, H.C. Wainwright maintained a Buy rating on Lifeward and raised the price target to $13.00.
The company has also seen changes in its board, with Jeff Dykan retiring as Chairman and Joseph Turk stepping into the role. Lifeward has further strengthened its board's governance capabilities with the appointment of Robert J. Marshall Jr., a financial executive with over three decades of experience, as a new director and Chairman of the Audit Committee.
In terms of future expectations, Lifeward has confirmed its revenue guidance for 2024, anticipating a range between $28 million and $32 million. H.C. Wainwright projects Lifeward's total revenues for the year to be approximately $30.8 million. These recent developments underscore Lifeward's ongoing business activities and financial performance.
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