IceCure Medical Ltd. (NASDAQ:ICCM) Given Average Recommendation of “Hold” by Brokerages

Shares of IceCure Medical Ltd. (NASDAQ:ICCM) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $62.70.

Several research firms have recently weighed in on ICCM. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a report on Tuesday, April 21st. Alliance Global Partners initiated coverage on IceCure Medical in a research note on Monday, May 4th. They set a “buy” rating for the company. Finally, Maxim Group cut their price target on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 14th.

Institutional Investors Weigh In On IceCure Medical

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of IceCure Medical during the fourth quarter worth approximately $67,000. Virtu Financial LLC purchased a new stake in shares of IceCure Medical during the fourth quarter worth approximately $39,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of IceCure Medical during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Trading Up 9.8%

ICCM stock opened at $5.93 on Tuesday. The company has a market capitalization of $16.66 million, a P/E ratio of -0.82 and a beta of 0.40. IceCure Medical has a twelve month low of $2.12 and a twelve month high of $42.00. The business has a 50 day simple moving average of $6.94 and a 200-day simple moving average of $14.11.

IceCure Medical (NASDAQ:ICCM) last posted its quarterly earnings data 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%. Research analysts predict that IceCure Medical will post -4.5 EPS for the current fiscal year.

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.