Microbot Medical (NASDAQ:MBOT) Lowered to Sell Rating by Wall Street Zen

Key Points

• Microbot Medical has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Despite recent downgrades, analysts maintain a Moderate Buy average rating for the company, with an average target price of $9.00.
• The company reported a loss of ($0.10) earnings per share, missing analysts' expectations, and projects a further decline with an anticipated -0.71 EPS for the current fiscal year.

Wall Street Zen downgraded shares of Microbot Medical (NASDAQ:MBOT - Free Report) from a hold rating to a sell rating in a report published on Saturday.

Separately, Zacks Research lowered shares of Microbot Medical from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Microbot Medical presently has an average rating of "Moderate Buy" and an average target price of $9.00.

Microbot Medical Stock Performance

Shares of NASDAQ MBOT traded down $0.14 during mid-day trading on Friday, reaching $3.62. The company had a trading volume of 1,271,309 shares, compared to its average volume of 3,120,256. The stock has a fifty day moving average of $2.93 and a two-hundred day moving average of $2.39. The company has a market capitalization of $164.66 million, a price-to-earnings ratio of -6.23 and a beta of 1.22. Microbot Medical has a 12-month low of $0.82 and a 12-month high of $4.62.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). Sell-side analysts forecast that Microbot Medical will post -0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microbot Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. U.S. Capital Wealth Advisors LLC acquired a new position in Microbot Medical during the second quarter valued at approximately $25,000. American Century Companies Inc. acquired a new stake in shares of Microbot Medical in the second quarter worth $32,000. Beacon Capital Management LLC grew its stake in shares of Microbot Medical by 166.7% in the second quarter. Beacon Capital Management LLC now owns 16,000 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 10,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Microbot Medical in the first quarter worth $42,000. Finally, XTX Topco Ltd acquired a new stake in shares of Microbot Medical in the second quarter worth $43,000. Institutional investors and hedge funds own 16.30% of the company's stock.

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.