IceCure Medical (NASDAQ:ICCM) Trading Down 4.9% – What’s Next?

IceCure Medical Ltd. (NASDAQ:ICCM)’s share price traded down 4.9% during mid-day trading on Friday . The company traded as low as $0.3126 and last traded at $0.3233. 241,756 shares were traded during mid-day trading, a decline of 72% from the average session volume of 872,759 shares. The stock had previously closed at $0.34.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of IceCure Medical from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, IceCure Medical currently has an average rating of “Hold” and a consensus target price of $2.64.

IceCure Medical Stock Performance

The firm has a market capitalization of $26.25 million, a price-to-earnings ratio of -1.35 and a beta of 0.52. The stock’s fifty day moving average is $0.54 and its two-hundred day moving average is $0.67.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings data on Sunday, February 15th. The company reported $0.06 earnings per share for the quarter. The firm had revenue of $1.28 million during the quarter. IceCure Medical had a negative return on equity of 221.04% and a negative net margin of 445.61%. Sell-side analysts anticipate that IceCure Medical Ltd. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On IceCure Medical

A number of institutional investors have recently made changes to their positions in ICCM. Virtu Financial LLC acquired a new stake in shares of IceCure Medical during the 4th quarter valued at approximately $39,000. Concurrent Investment Advisors LLC acquired a new position in IceCure Medical in the fourth quarter worth $48,000. Finally, Jane Street Group LLC bought a new stake in IceCure Medical during the fourth quarter valued at $67,000. 0.62% of the stock is currently owned by institutional investors.

About IceCure Medical

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.