Microbot Medical (NASDAQ:MBOT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Microbot Medical has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook on the stock.
• HC Wainwright increased the price target from $9.00 to $12.00, supporting a general consensus of a "Moderate Buy" rating among analysts.
• Institutional ownership has recently increased, with significant stakes acquired by several hedge funds, indicating growing confidence in the company's potential.

Microbot Medical (NASDAQ:MBOT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

MBOT has been the topic of a number of other reports. Zacks Research downgraded shares of Microbot Medical from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. HC Wainwright boosted their price target on shares of Microbot Medical from $9.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Microbot Medical has an average rating of "Moderate Buy" and an average price target of $12.00.

Microbot Medical Stock Performance

Shares of NASDAQ:MBOT traded down $0.08 during mid-day trading on Friday, hitting $3.34. The stock had a trading volume of 3,697,442 shares, compared to its average volume of 3,500,586. The company's 50 day moving average is $3.15 and its 200-day moving average is $2.52. Microbot Medical has a 12-month low of $0.85 and a 12-month high of $4.67. The company has a market cap of $152.14 million, a PE ratio of -5.76 and a beta of 1.21.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). On average, equities research analysts predict that Microbot Medical will post -0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Microbot Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Microbot Medical by 24.7% during the second quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company's stock valued at $996,000 after acquiring an additional 78,121 shares in the last quarter. DNB Asset Management AS raised its position in shares of Microbot Medical by 67.9% in the second quarter. DNB Asset Management AS now owns 192,786 shares of the biotechnology company's stock valued at $486,000 after purchasing an additional 77,965 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Microbot Medical in the first quarter valued at approximately $57,000. Virtu Financial LLC bought a new position in shares of Microbot Medical in the first quarter valued at approximately $42,000. Finally, Lazari Capital Management Inc. bought a new position in shares of Microbot Medical in the second quarter valued at approximately $54,000. Institutional investors own 16.30% of the company's stock.

Microbot Medical Company Profile

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.