Mobia Medical (NASDAQ:MOBI) Stock Price Breaks Below 50-Day Moving Average – Time to Sell?

Mobia Medical, Inc. (NASDAQ:MOBI)’s stock price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.98 and traded as low as $9.95. Mobia Medical shares last traded at $9.97, with a volume of 277,263 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MOBI shares. Weiss Ratings started coverage on shares of Mobia Medical in a research report on Wednesday, August 12th. They set a “sell (e-)” rating on the stock. BTIG Research reissued a “buy” rating and set a $19.00 price objective on shares of Mobia Medical in a research report on Tuesday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mobia Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Five 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 stock. According to MarketBeat, Mobia Medical has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Mobia Medical Trading Down 1.0%

The business’s 50 day moving average is $9.98. The company has a quick ratio of 12.80, a current ratio of 13.28 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $331.90 million and a PE ratio of -0.49.

Mobia Medical (NASDAQ:MOBI) last announced its earnings results on Tuesday, August 11th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.27). The business had revenue of $13.51 million during the quarter. The firm’s revenue was up 102.4% on a year-over-year basis. On average, equities research analysts predict that Mobia Medical, Inc. will post -2.63 EPS for the current year.

Insider Buying and Selling at Mobia Medical

In related news, Director Casey Tansey purchased 16,441 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $12.07 per share, with a total value of $198,442.87. Following the completion of the acquisition, the director directly owned 318,332 shares in the company, valued at $3,842,267.24. This trade represents a 5.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired 87,000 shares of company stock worth $1,016,367 over the last three months.

Hedge Funds Weigh In On Mobia Medical

A number of large investors have recently bought and sold shares of MOBI. Readystate Asset Management LP acquired a new stake in shares of Mobia Medical in the 2nd quarter worth $134,000. Citadel Advisors LLC purchased a new stake in shares of Mobia Medical in the second quarter valued at about $670,000. State Street Corp acquired a new position in shares of Mobia Medical during the second quarter worth about $735,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Mobia Medical during the third quarter worth about $1,019,000.

Mobia Medical Company Profile

Mobia Medical Inc is a commercial-stage medical device company redefining stroke recovery for survivors living with life-altering motor impairments. Mobia Medical Inc is based in AUSTIN, Texas.