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Microbot Medical (NASDAQ:MBOT) Issues Earnings Results

Microbot Medical logo with Medical background

Key Points

  • Microbot Medical reported earnings of ($0.10) per share for the quarter, missing analysts' expectations of ($0.08) by $0.02.
  • Following the earnings report, shares of Microbot Medical rose by 8.0%, reaching $3.12 during mid-day trading.
  • Institutional investors have shown increased interest, with Geode Capital Management increasing its stake by 24.7% in the second quarter.
  • Need better tools to track Microbot Medical? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Microbot Medical (NASDAQ:MBOT - Get Free Report) released its earnings results on Tuesday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02), Zacks reports.

Microbot Medical Trading Up 8.0%

Shares of NASDAQ MBOT traded up $0.23 during mid-day trading on Tuesday, reaching $3.12. 2,153,504 shares of the company's stock were exchanged, compared to its average volume of 3,082,047. The firm has a market capitalization of $113.51 million, a price-to-earnings ratio of -4.80 and a beta of 1.15. Microbot Medical has a twelve month low of $0.82 and a twelve month high of $3.38. The business has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $2.23.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Microbot Medical from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th.

Check Out Our Latest Stock Analysis on Microbot Medical

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Microbot Medical by 24.7% during the 2nd quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company's stock worth $996,000 after purchasing an additional 78,121 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Microbot Medical in the 1st quarter valued at $57,000. XTX Topco Ltd bought a new position in shares of Microbot Medical in the 2nd quarter valued at $43,000. Finally, American Century Companies Inc. bought a new stake in Microbot Medical during the 2nd quarter worth $32,000. 16.30% of the stock is currently owned by institutional investors.

Microbot Medical Company Profile

(Get Free Report)

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.

Read More

Earnings History for Microbot Medical (NASDAQ:MBOT)

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.

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