Zacks Research Upgrades Microbot Medical (NASDAQ:MBOT) to Strong-Buy

Microbot Medical (NASDAQ:MBOT) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Loop Capital set a $4.00 price objective on shares of Microbot Medical in a research report on Wednesday, June 3rd. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Microbot Medical currently has a consensus rating of “Buy” and an average price target of $6.62.

Microbot Medical Trading Down 0.6%

Microbot Medical stock opened at $1.76 on Wednesday. The stock has a 50-day moving average of $1.84 and a two-hundred day moving average of $2.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 21.93 and a current ratio of 22.59. Microbot Medical has a one year low of $1.60 and a one year high of $4.67. The stock has a market cap of $118.22 million, a PE ratio of -6.77 and a beta of 1.04.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.30 million. On average, research analysts anticipate that Microbot Medical will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Cetera Investment Advisers increased its holdings in Microbot Medical by 38.8% in the 4th quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock worth $59,000 after buying an additional 8,201 shares during the period. Zacks Investment Management purchased a new position in Microbot Medical during the 3rd quarter worth approximately $33,000. CTC Alternative Strategies Ltd. purchased a new position in Microbot Medical during the 1st quarter worth approximately $28,000. Squarepoint Ops LLC acquired a new stake in Microbot Medical during the 3rd quarter valued at approximately $37,000. Finally, American Century Companies Inc. acquired a new stake in Microbot Medical during the 2nd quarter valued at approximately $32,000. 16.30% of the stock is owned by institutional investors and hedge funds.

Microbot Medical Company Profile

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.