ClearPoint Neuro (NASDAQ:CLPT) Stock Moved Up to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen upgraded ClearPoint Neuro from “strong sell” to “hold,” while analysts’ overall consensus remains “Hold,” with an average price target of $24.33.
• ClearPoint Neuro shares opened at $10.67, well below the 52-week high of $24.75. The company reported a quarterly loss of $0.24 per share, better than estimates, but revenue of $12.07 million slightly missed expectations.
• Institutional ownership stands at 30.08%, with BlackRock and several other firms establishing or increasing positions during the second quarter.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Lake Street Capital set a $25.00 price target on ClearPoint Neuro in a research note on Tuesday, August 4th. Stifel Nicolaus decreased their target price on ClearPoint Neuro from $22.00 to $18.00 and set a "buy" rating for the company in a report on Thursday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ClearPoint Neuro in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.33.

ClearPoint Neuro Stock Down 0.2%

Shares of NASDAQ CLPT opened at $10.67 on Friday. ClearPoint Neuro has a 52-week low of $8.27 and a 52-week high of $24.75. The firm has a fifty day moving average of $12.51 and a 200-day moving average of $13.00. The stock has a market capitalization of $325.48 million, a PE ratio of -8.82 and a beta of 1.29. The company has a quick ratio of 3.89, a current ratio of 6.76 and a debt-to-equity ratio of 1.86.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.08. ClearPoint Neuro had a negative return on equity of 170.24% and a negative net margin of 79.43%. The business had revenue of $12.07 million for the quarter, compared to analyst estimates of $12.30 million. On average, analysts anticipate that ClearPoint Neuro will post -1.22 EPS for the current year.

Institutional Trading of ClearPoint Neuro

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in ClearPoint Neuro in the 2nd quarter worth approximately $42,456,000. Compass Financial Management LLC acquired a new stake in ClearPoint Neuro in the second quarter valued at approximately $5,275,000. Bank of New York Mellon Corp purchased a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $2,708,000. FirstWave Capital Management LLC raised its stake in shares of ClearPoint Neuro by 20.6% during the second quarter. FirstWave Capital Management LLC now owns 115,600 shares of the company's stock valued at $2,062,000 after purchasing an additional 19,760 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $2,048,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company that develops and commercializes platforms for minimally invasive procedures involving the brain. Its technology is designed to help physicians plan, navigate and deliver treatments with real-time magnetic resonance imaging (MRI) guidance, supporting more precise access to targeted areas of the brain.

The company's principal product is the ClearPoint Neuro Navigation System, which uses specialized software, instruments and accessories to guide neurosurgical procedures inside an MRI scanner.

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