IceCure Medical (NASDAQ:ICCM) Upgraded at Wall Street Zen

IceCure Medical (NASDAQ:ICCM) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a research note issued to investors on Sunday.

A number of other research firms have also recently weighed in on ICCM. Maxim Group lowered their price objective on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Alliance Global Partners assumed coverage on IceCure Medical in a research note on Monday, May 4th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IceCure Medical presently has an average rating of “Hold” and an average price target of $62.70.

IceCure Medical Trading Down 6.2%

Shares of NASDAQ:ICCM traded down $0.24 during trading on Friday, reaching $3.65. The stock had a trading volume of 125,819 shares, compared to its average volume of 10,145,935. The firm’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $12.69. IceCure Medical has a one year low of $2.12 and a one year high of $42.00. The company has a market capitalization of $12.52 million, a P/E ratio of -0.51 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $0.91 million during the quarter, compared to analyst estimates of $1.34 million. IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. Equities research analysts forecast that IceCure Medical will post -3.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in IceCure Medical in the 4th quarter worth approximately $39,000. Jane Street Group LLC acquired a new stake in IceCure Medical during the 4th quarter valued at approximately $67,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of IceCure Medical in the 4th quarter valued at $48,000. 0.62% of the stock is owned by institutional investors and hedge funds.

About IceCure Medical

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.