Microbot Medical (NASDAQ:MBOT) Raised to “Strong-Buy” at Zacks Research

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

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

Microbot Medical Trading Down 0.6%

Shares of NASDAQ:MBOT opened at $1.76 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 22.59 and a quick ratio of 21.93. The business’s 50 day moving average price is $1.84 and its 200-day moving average price is $2.10. The firm has a market capitalization of $118.22 million, a price-to-earnings ratio of -6.77 and a beta of 1.04. Microbot Medical has a 1 year low of $1.60 and a 1 year high of $4.67.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.30 million. On average, equities research analysts forecast that Microbot Medical will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Microbot Medical

Large investors have recently modified their holdings of the business. CTC Alternative Strategies Ltd. purchased a new position in shares of Microbot Medical during the 1st quarter worth $28,000. Bank of America Corp DE raised its holdings in Microbot Medical by 1,688.1% in the 1st quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 71,560 shares during the period. Cetera Investment Advisers lifted its position in Microbot Medical by 44.7% in the first quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 13,099 shares during the last quarter. Private Advisor Group LLC acquired a new position in Microbot Medical in the first quarter valued at about $54,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Microbot Medical in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 16.30% of the company’s stock.

About Microbot Medical

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.