Microbot Medical (NASDAQ:MBOT) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Microbot Medical (NASDAQ:MBOT) from “hold” to “strong-buy,” boosting sentiment around the stock. Other analysts are mixed, but the overall consensus rating remains “buy” with an average price target of $6.62.
• MBOT shares were trading at $1.76 at the time of the report, giving the company a market cap of about $118.2 million. The stock has ranged from a 52-week low of $1.60 to a high of $4.67.
• Microbot Medical beat earnings expectations in its latest quarter, reporting a loss of $0.05 per share versus the expected $0.08 loss. Revenue came in below estimates, and analysts expect the company to post a full-year loss of $0.28 per share.

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

Several other brokerages also recently issued reports on MBOT. Wall Street Zen raised shares of Microbot Medical from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. HC Wainwright reaffirmed a "buy" rating on shares of Microbot Medical in a research note on Tuesday, July 14th. Loop Capital set a $4.00 target price on Microbot Medical in a report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Microbot Medical in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $6.62.

Microbot Medical Price Performance

Shares of Microbot Medical stock opened at $1.76 on Wednesday. The firm has a market cap of $118.22 million, a PE ratio of -6.77 and a beta of 1.04. The stock has a 50 day moving average of $1.84 and a 200 day moving average of $2.10. The company has a current ratio of 22.59, a quick ratio of 21.93 and a debt-to-equity ratio of 0.01. Microbot Medical has a 12 month low of $1.60 and a 12 month high of $4.67.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.30 million. On average, research analysts expect that Microbot Medical will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in shares of Microbot Medical in the 3rd quarter valued at approximately $4,435,000. DNB Asset Management AS raised its stake in shares of Microbot Medical by 178.1% in the fourth quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company's stock worth $1,355,000 after purchasing an additional 433,869 shares during the last quarter. Vanguard Group Inc. increased its holdings in Microbot Medical by 14.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company's stock worth $7,148,000 after buying an additional 292,923 shares during the period. Geode Capital Management LLC lifted its stake in Microbot Medical by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 761,995 shares of the biotechnology company's stock valued at $1,524,000 after acquiring an additional 268,609 shares during the period. Finally, 683 Capital Management LLC purchased a new position in shares of Microbot Medical during the fourth quarter worth $512,000. 16.30% of the stock is owned by institutional investors and hedge funds.

Microbot Medical Company Profile

Microbot Medical Inc NASDAQ: MBOT is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.

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