Short Interest in Microbot Medical Inc. (NASDAQ:MBOT) Declines By 57.3%

Key Points

• Short interest in Microbot Medical Inc. has dropped significantly by 57.3%, declining from 10,630,000 shares to 4,540,000 shares as of September 30th.
• Several hedge funds have recently acquired positions in Microbot Medical, indicating growing interest from institutional investors, who now hold 16.30% of the company's stock.
• Despite missing earnings estimates with a reported EPS of ($0.10), analysts remain cautiously optimistic, with a consensus rating of "Hold" and a target price of $12.00.

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 4,540,000 shares, a decline of 57.3% from the September 15th total of 10,630,000 shares. Based on an average daily trading volume, of 4,200,000 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 4,200,000 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Microbot Medical

Large investors have recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC purchased a new position in Microbot Medical during the 2nd quarter worth $25,000. American Century Companies Inc. purchased a new position in Microbot Medical during the 2nd quarter worth $32,000. Beacon Capital Management LLC raised 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 buying an additional 10,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Microbot Medical during the 1st quarter worth $42,000. Finally, XTX Topco Ltd purchased a new position in Microbot Medical during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 16.30% of the company's stock.

Microbot Medical Price Performance

MBOT stock opened at $2.76 on Friday. The company has a fifty day moving average price of $3.38 and a 200 day moving average price of $2.79. Microbot Medical has a 12 month low of $0.89 and a 12 month high of $4.67. The company has a market cap of $185.36 million, a price-to-earnings ratio of -4.76 and a beta of 1.25.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). As a group, analysts anticipate that Microbot Medical will post -0.71 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MBOT. HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of Microbot Medical in a research report on Wednesday. Wall Street Zen upgraded shares of Microbot Medical from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Microbot Medical in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded 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, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $12.00.

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.

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