Microbot Medical (NASDAQ:MBOT) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Microbot Medical's stock price surpassed its 200-day moving average of $2.17, trading as high as $2.70 before closing at $2.53 with significant trading volume.
• Analysts' ratings for Microbot Medical have shifted, with Wall Street Zen upgrading the stock from a "sell" to a "hold" and HC Wainwright setting a price target of $9.00.
• Microbot Medical reported a quarterly EPS of ($0.08), which exceeds analysts' estimates of ($0.15), reflecting potential optimism for future performance.

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.17 and traded as high as $2.70. Microbot Medical shares last traded at $2.53, with a volume of 1,964,033 shares traded.

Wall Street Analyst Weigh In

MBOT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Microbot Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. HC Wainwright reiterated a "buy" rating and set a $9.00 target price on shares of Microbot Medical in a research report on Thursday, April 10th.

Microbot Medical Trading Up 8.1%

The business has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.18. The company has a market cap of $104.22 million, a PE ratio of -4.39 and a beta of 1.15.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. Equities analysts expect that Microbot Medical Inc. will post -0.71 EPS for the current year.

Institutional Trading of Microbot Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC acquired a new position in Microbot Medical in the 2nd quarter valued at about $25,000. Beacon Capital Management LLC lifted its stake in Microbot Medical by 166.7% in the second quarter. Beacon Capital Management LLC now owns 16,000 shares of the biotechnology company's stock valued at $40,000 after buying an additional 10,000 shares during the last quarter. Lazari Capital Management Inc. purchased a new stake in Microbot Medical in the second quarter valued at approximately $54,000. Virtu Financial LLC purchased a new stake in shares of Microbot Medical during the first quarter worth approximately $42,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Microbot Medical during the first quarter worth approximately $57,000. 16.30% of the stock is owned by institutional investors and hedge funds.

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.