Microbot Medical (NASDAQ:MBOT) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Microbot Medical (NASDAQ: MBOT) has seen its stock price rise above the two hundred day moving average, reaching a high of $3.03, and currently trading at $3.01 with a volume of over 2.4 million shares.
• Analysts have mixed ratings on Microbot Medical, with HC Wainwright raising their price target to $12 and giving a "buy" rating, while Zacks has downgraded the stock to "hold" and Weiss Ratings maintained a "sell (d-)" rating.
• The company reported a quarterly loss of ($0.10) EPS, missing expectations and analysts forecast an annual loss of -0.71 EPS for 2023.

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.76 and traded as high as $3.03. Microbot Medical shares last traded at $3.01, with a volume of 2,400,055 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on MBOT. 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 research report on Thursday, September 11th. Zacks Research lowered shares of Microbot Medical from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Microbot Medical from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Microbot Medical in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $12.00.

Microbot Medical Price Performance

The firm has a market capitalization of $158.90 million, a P/E ratio of -5.19 and a beta of 1.25. The stock's 50 day moving average is $3.39 and its two-hundred day moving average is $2.76.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). As a group, equities research analysts expect that Microbot Medical Inc. will post -0.71 EPS for the current year.

Institutional Investors Weigh In On Microbot Medical

Several large investors have recently bought and sold shares of MBOT. XTX Topco Ltd acquired a new position in shares of Microbot Medical in the second quarter valued at approximately $43,000. American Century Companies Inc. acquired a new position in Microbot Medical during the second quarter worth $32,000. DNB Asset Management AS boosted its holdings in Microbot Medical by 67.9% during the second quarter. DNB Asset Management AS now owns 192,786 shares of the biotechnology company's stock worth $486,000 after purchasing an additional 77,965 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 78,121 shares during the last quarter. Finally, Lazari Capital Management Inc. acquired a new stake in Microbot Medical in the second quarter valued at $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.

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