Microbot Medical (NASDAQ:MBOT) Downgraded by Zacks Research to "Hold"

Key Points

• Microbot Medical has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, while Wall Street Zen also rated the stock as "hold."
• The company recently reported a quarterly EPS of -$0.10, missing consensus estimates, and analysts expect an annual EPS of -$0.71.
• Despite the downgrade, the stock is currently showing positive movement, opening at $3.85 and previously reaching a high of $3.94 within the past twelve months.

Microbot Medical (NASDAQ:MBOT - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Wall Street Zen raised Microbot Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Microbot Medical presently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Microbot Medical Stock Up 8.1%

Microbot Medical stock opened at $3.85 on Thursday. The business has a fifty day moving average of $2.72 and a two-hundred day moving average of $2.30. The firm has a market cap of $175.37 million, a P/E ratio of -6.64 and a beta of 1.15. Microbot Medical has a twelve month low of $0.82 and a twelve month high of $3.94.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Equities analysts expect that Microbot Medical will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MBOT. Renaissance Technologies LLC purchased a new position in Microbot Medical in the 4th quarter valued at about $118,000. Geode Capital Management LLC lifted its stake in Microbot Medical by 24.7% in the 2nd quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company's stock valued at $996,000 after buying an additional 78,121 shares in the last quarter. DNB Asset Management AS lifted its stake in Microbot Medical by 67.9% in the 2nd quarter. DNB Asset Management AS now owns 192,786 shares of the biotechnology company's stock valued at $486,000 after buying an additional 77,965 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Microbot Medical in the 1st quarter valued at about $57,000. Finally, Virtu Financial LLC purchased a new position in Microbot Medical in the 1st quarter valued at about $42,000. 16.30% of the stock is owned by hedge funds and other institutional investors.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.