Microbot Medical (NASDAQ:MBOT) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.45 and traded as high as $4.67. Microbot Medical shares last traded at $4.50, with a volume of 44,700,283 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Microbot Medical from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Microbot Medical currently has an average rating of "Moderate Buy" and a consensus price target of $9.00.

Microbot Medical Trading Up 23.0%

The firm has a market cap of $204.96 million, a price-to-earnings ratio of -7.76 and a beta of 1.22. The company's 50-day moving average is $3.03 and its 200-day moving average is $2.45.

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 the consensus estimate of ($0.08) by ($0.02). Equities research analysts forecast that Microbot Medical Inc. will post -0.71 EPS for the current year.

Institutional Trading of Microbot Medical

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in Microbot Medical in the first quarter valued at approximately $42,000. Geode Capital Management LLC boosted its position in Microbot Medical by 24.7% in the second 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. Goldman Sachs Group Inc. acquired a new stake in Microbot Medical in the first quarter valued at approximately $57,000. XTX Topco Ltd acquired a new stake in Microbot Medical in the second quarter valued at approximately $43,000. Finally, American Century Companies Inc. acquired a new stake in Microbot Medical in the second quarter valued at approximately $32,000. Institutional investors and hedge funds 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.

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