Microbot Medical (NASDAQ:MBOT) Stock Price Passes Above 200-Day Moving Average After Earnings Miss

Key Points

• Microbot Medical's stock surpassed its 200-day moving average, trading at $3.04 after reaching a high of $3.12 following an earnings report.
• The company reported an earnings per share (EPS) of ($0.10), which missed the consensus estimate of ($0.08) by $0.02.
• Institutional investors currently hold 16.30% of Microbot Medical's stock, with several firms buying new stakes or increasing their holdings recently.

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday following a stronger than expected earnings report. The stock has a 200-day moving average of $2.23 and traded as high as $3.12. Microbot Medical shares last traded at $3.04, with a volume of 1,722,279 shares traded.

The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02).

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Microbot Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th.

Institutional Trading of Microbot Medical

Several hedge funds have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Microbot Medical in the 2nd quarter worth $25,000. American Century Companies Inc. acquired a new stake in Microbot Medical during the 2nd quarter worth about $32,000. Beacon Capital Management LLC boosted its position in Microbot Medical by 166.7% during the 2nd quarter. Beacon Capital Management LLC now owns 16,000 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 10,000 shares during the period. Virtu Financial LLC purchased a new position in Microbot Medical in the first quarter valued at about $42,000. Finally, XTX Topco Ltd purchased a new position in Microbot Medical in the second quarter valued at about $43,000. Institutional investors own 16.30% of the company's stock.

Microbot Medical Price Performance

The stock has a market cap of $110.60 million, a PE ratio of -5.24 and a beta of 1.15. The business has a 50 day simple moving average of $2.61 and a 200 day simple moving average of $2.23.

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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