Microbot Medical (NASDAQ:MBOT) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Microbot Medical to “strong sell” from “sell,” despite mixed analyst views. MarketBeat’s consensus remains “Moderate Buy,” with an average price target of $5.08.
• MBOT shares opened at $0.97, near their one-year low of $0.93 and below both the 50-day moving average of $1.29 and 200-day moving average of $1.71.
• Microbot Medical met quarterly EPS expectations with a loss of $0.08 per share and reported $0.24 million in revenue, above estimates of $0.13 million; analysts expect a full-year loss of $0.30 per share.

Microbot Medical (NASDAQ:MBOT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on MBOT. B. Riley Financial started coverage on Microbot Medical in a research report on Friday, September 11th. They set a "buy" rating and a $4.00 price target on the stock. Zacks Research downgraded shares of Microbot Medical from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 20th. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of Microbot Medical in a report on Wednesday. UBS Group set a $2.50 target price on Microbot Medical in a research note on Friday. Finally, Citizens Jmp assumed coverage on Microbot Medical in a research report on Friday. They issued a "market outperform" rating and a $2.50 price objective for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $5.08.

Microbot Medical Trading Up 3.4%

MBOT opened at $0.97 on Friday. The business's fifty day moving average is $1.29 and its two-hundred day moving average is $1.71. Microbot Medical has a one year low of $0.93 and a one year high of $2.85.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.13 million. Analysts forecast that Microbot Medical will post -0.30 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. acquired a new stake in shares of Microbot Medical during the first quarter valued at about $28,000. Private Advisor Group LLC bought a new position in shares of Microbot Medical in the 1st quarter worth about $54,000. Cetera Investment Advisers boosted its position in shares of Microbot Medical by 44.7% during the 1st quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company's stock valued at $102,000 after purchasing an additional 13,099 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Microbot Medical by 1,688.1% during the first quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company's stock worth $183,000 after acquiring an additional 71,560 shares in the last quarter. 16.30% of the stock is owned by institutional investors and hedge funds.

Microbot Medical Company Profile

Microbot Medical Inc NASDAQ: MBOT is a medical device company developing robotic and computer-assisted technologies for minimally invasive endovascular procedures. The company focuses on systems intended to help physicians navigate blood vessels and deliver interventional devices while potentially improving procedural control and reducing radiation exposure to medical personnel.

Microbot Medical's primary product candidate is the LIBERTY Endovascular Robotic System, a single-use, disposable robotic platform designed to remotely control guidewires and catheters during vascular procedures.

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