IceCure Medical (NASDAQ:ICCM) Shares Down 1.9% - What's Next?

Key Points

• IceCure Medical shares fell 1.9%, trading as low as $1.02, with a significant decrease in trading volume, down 71% from the average.
• Analysts have mixed ratings on the stock, with **one upgrade to buy** and a **downgrade to sell**, showing a consensus target price of **$2.39**.
• In its latest earnings report, IceCure Medical reported a loss with **$0.66 million** in revenue, falling short of expectations, while also showing a negative return on equity of **136.96%**.

Shares of IceCure Medical Ltd. (NASDAQ:ICCM - Get Free Report) traded down 1.9% on Thursday . The stock traded as low as $1.02 and last traded at $1.03. 605,141 shares traded hands during trading, a decline of 71% from the average session volume of 2,078,127 shares. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ICCM shares. Wall Street Zen cut shares of IceCure Medical from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Brookline Capital Management reaffirmed a "buy" rating on shares of IceCure Medical in a report on Wednesday, August 13th. Loop Capital set a $2.77 price target on shares of IceCure Medical in a report on Wednesday, August 13th. HC Wainwright dropped their price target on IceCure Medical from $2.50 to $2.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Finally, Zacks Research downgraded IceCure Medical from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $2.39.

IceCure Medical Trading Down 1.9%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 1.18. The company has a 50 day simple moving average of $0.99 and a two-hundred day simple moving average of $1.06. The firm has a market cap of $70.76 million, a PE ratio of -6.44 and a beta of 0.33.

IceCure Medical (NASDAQ:ICCM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.12. IceCure Medical had a negative return on equity of 136.96% and a negative net margin of 317.62%.The business had revenue of $0.66 million for the quarter, compared to the consensus estimate of $0.90 million. Analysts expect that IceCure Medical Ltd. will post -0.28 EPS for the current fiscal year.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.

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