Microbot Medical (NASDAQ:MBOT) Posts Earnings Results, Meets Expectations

Microbot Medical (NASDAQ:MBOT) released its quarterly earnings data on Tuesday. The biotechnology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08), FiscalAI reports. The company had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.20 million.

Microbot Medical Stock Down 2.3%

MBOT traded down $0.04 during trading hours on Thursday, hitting $1.70. 291,859 shares of the company’s stock were exchanged, compared to its average volume of 1,519,827. The stock has a market cap of $113.85 million, a price-to-earnings ratio of -7.06 and a beta of 1.06. Microbot Medical has a 1-year low of $1.60 and a 1-year high of $4.67. The stock’s 50-day moving average is $1.82 and its two-hundred day moving average is $2.07. The company has a quick ratio of 21.93, a current ratio of 22.59 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

A number of equities analysts have issued reports on MBOT shares. Loop Capital set a $4.00 target price on Microbot Medical in a report on Wednesday, June 3rd. Zacks Research upgraded shares of Microbot Medical from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a research note on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $6.62.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MBOT. Cetera Investment Advisers raised its position in Microbot Medical by 38.8% during the fourth quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 8,201 shares in the last quarter. Zacks Investment Management acquired a new stake in Microbot Medical in the third quarter valued at $33,000. Squarepoint Ops LLC bought a new position in shares of Microbot Medical in the 3rd quarter valued at about $37,000. American Century Companies Inc. acquired a new position in shares of Microbot Medical during the 2nd quarter worth about $32,000. Finally, Wexford Capital LP bought a new stake in shares of Microbot Medical in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 16.30% of the company’s stock.

Microbot Medical Company Profile

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.