Microbot Medical (NASDAQ:MBOT) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Microbot Medical from “strong sell” to “sell,” while broader analyst coverage gives the stock a consensus “Hold” rating and an average price target of $6.38.
• MBOT opened at $1.36, near its one-year low of $1.35, with a market capitalization of approximately $91.35 million; its 50-day and 200-day moving averages were $1.62 and $1.96, respectively.
• Microbot reported quarterly adjusted EPS of $(0.08), in line with estimates, and revenue of $0.24 million versus expectations of $0.13 million. Institutional investors own about 16.3% of the company.

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

MBOT has been the subject of a number of other reports. Loop Capital set a $4.00 target price on shares of Microbot Medical in a report on Wednesday, June 3rd. B. Riley Financial began coverage on Microbot Medical in a research note on Friday, September 11th. They issued a "buy" rating and a $4.00 price objective for the company. Zacks Research cut Microbot Medical from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. HC Wainwright reiterated a "buy" rating on shares of Microbot Medical in a research report on Wednesday, August 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Microbot Medical in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Microbot Medical has a consensus rating of "Hold" and a consensus price target of $6.38.

Microbot Medical Stock Performance

NASDAQ:MBOT opened at $1.36 on Friday. Microbot Medical has a 1 year low of $1.35 and a 1 year high of $3.74. The stock has a fifty day moving average price of $1.62 and a two-hundred day moving average price of $1.96. The stock has a market capitalization of $91.35 million, a price-to-earnings ratio of -5.67 and a beta of 1.03.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last issued its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.24 million for the quarter, compared to analysts' expectations of $0.13 million. On average, analysts predict that Microbot Medical will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Microbot Medical

Several hedge funds have recently bought and sold shares of MBOT. CTC Alternative Strategies Ltd. purchased a new stake in Microbot Medical during the 1st quarter worth about $28,000. Bank of America Corp DE lifted its holdings in Microbot Medical by 1,688.1% in the 1st quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company's stock valued at $183,000 after purchasing an additional 71,560 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Microbot Medical by 44.7% in 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. Private Advisor Group LLC acquired a new stake in shares of Microbot Medical during the 1st quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Microbot Medical during the 4th quarter worth about $65,000. Hedge funds and other institutional investors own 16.30% of the company's stock.

Microbot Medical Company Profile

Microbot Medical Inc is a medical-device company focused on developing robotic and computer-assisted technologies for minimally invasive vascular procedures. The company's primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use system designed to enable physicians to remotely control the navigation and positioning of guidewires and catheters during endovascular interventions.

LIBERTY is intended to support procedures involving the peripheral and coronary vasculature while potentially reducing physician exposure to radiation and improving procedural control.

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