Wall Street Zen Downgrades Microbot Medical (NASDAQ:MBOT) to Strong Sell

Key Points

• Wall Street Zen downgraded Microbot Medical to “strong sell” from “sell,” adding to mixed analyst opinions. MarketBeat reports a consensus “hold” rating and an average price target of $6.38.
• Microbot shares opened at $1.44, near their 12-month low of $1.44 and well below the 12-month high of $4.67. The company has a market capitalization of approximately $96.7 million.
• Microbot reported a quarterly loss of $0.08 per share, in line with estimates, while revenue of $0.24 million exceeded the $0.13 million consensus forecast. Institutional investors own 16.3% of the company.

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

MBOT has been the topic of several other research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Microbot Medical in a research report on Wednesday, July 8th. HC Wainwright reiterated a "buy" rating on shares of Microbot Medical in a research report on Wednesday, August 19th. Zacks Research lowered Microbot Medical from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. B. Riley Financial restated a "buy" rating and issued a $4.00 target price (down from $5.00) on shares of Microbot Medical in a report on Friday, August 14th. Finally, Loop Capital set a $4.00 target price on Microbot Medical in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.38.

Microbot Medical Stock Performance

Shares of NASDAQ MBOT opened at $1.44 on Friday. Microbot Medical has a twelve month low of $1.44 and a twelve month high of $4.67. The firm has a 50-day moving average of $1.71 and a two-hundred day moving average of $2.02. The company has a market capitalization of $96.72 million, a price-to-earnings ratio of -6.00 and a beta of 1.03.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.13 million. As a group, research analysts predict that Microbot Medical will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Microbot Medical

Several hedge funds have recently made changes to their positions in the company. Zacks Investment Management acquired a new position in Microbot Medical in the 3rd quarter worth approximately $33,000. CTC Alternative Strategies Ltd. acquired a new stake in Microbot Medical during the 1st quarter valued at $28,000. Squarepoint Ops LLC purchased a new stake in shares of Microbot Medical in the third quarter valued at $37,000. American Century Companies Inc. purchased a new stake in shares of Microbot Medical in the second quarter valued at $32,000. Finally, Wexford Capital LP purchased a new stake in shares of Microbot Medical in the third quarter valued at $50,000. Hedge funds and other institutional investors 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.

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