IceCure Medical (NASDAQ:ICCM) Trading Down 8.9% – Should You Sell?

IceCure Medical Ltd. (NASDAQ:ICCM) shares dropped 8.9% during mid-day trading on Monday . The company traded as low as $0.91 and last traded at $0.92. Approximately 1,994,296 shares traded hands during trading, a decline of 22% from the average daily volume of 2,549,969 shares. The stock had previously closed at $1.01.

Wall Street Analyst Weigh In

ICCM has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of IceCure Medical in a research report on Thursday, May 29th. Wall Street Zen downgraded IceCure Medical from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th.

IceCure Medical Price Performance

The stock has a market capitalization of $54.00 million, a PE ratio of -3.29 and a beta of 0.32. The firm’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.89 and a quick ratio of 1.48.

IceCure Medical (NASDAQ:ICCM) last posted its quarterly earnings results on Wednesday, May 28th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.75 million. IceCure Medical had a negative net margin of 467.37% and a negative return on equity of 182.26%. During the same period last year, the firm posted ($0.08) earnings per share. As a group, equities analysts forecast that IceCure Medical Ltd. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IceCure Medical stock. XTX Topco Ltd boosted its stake in IceCure Medical Ltd. (NASDAQ:ICCM) by 123.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,866 shares of the company’s stock after purchasing an additional 32,555 shares during the period. XTX Topco Ltd owned about 0.11% of IceCure Medical worth $65,000 at the end of the most recent reporting period. Institutional investors own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.