Microbot Medical Inc. (NASDAQ:MBOT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Microbot Medical Inc. (NASDAQ:MBOT) have been given a consensus recommendation of “Hold” by the five research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.38.

A number of brokerages recently issued reports on MBOT. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Wall Street Zen upgraded Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 19th. Zacks Research cut Microbot Medical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. HC Wainwright restated a “buy” rating on shares of Microbot Medical in a report on Wednesday, August 19th. Finally, Loop Capital set a $4.00 target price on Microbot Medical in a report on Wednesday, June 3rd.

Microbot Medical Stock Down 0.4%

Shares of Microbot Medical stock opened at $1.25 on Wednesday. The company’s fifty day simple moving average is $1.55 and its two-hundred day simple moving average is $1.90. Microbot Medical has a 12-month low of $1.22 and a 12-month high of $3.46. The firm has a market cap of $83.63 million, a PE ratio of -5.19 and a beta of 1.03.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.13 million. As a group, sell-side analysts expect that Microbot Medical will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Microbot Medical by 1,688.1% in the first quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock worth $183,000 after buying an additional 71,560 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Microbot Medical during the 4th quarter worth approximately $65,000. Private Advisor Group LLC purchased a new position in shares of Microbot Medical during the 1st quarter worth approximately $54,000. Cetera Investment Advisers raised its position in shares of Microbot Medical by 44.7% in the 1st quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 13,099 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new position in shares of Microbot Medical in the 1st quarter worth approximately $28,000. 16.30% of the stock is currently owned by institutional investors.

About Microbot Medical

Microbot Medical Inc is a medical-device company focused on developing robotic and computer-assisted technologies for minimally invasive vascular procedures. The company’s primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use system designed to enable physicians to remotely control the navigation and positioning of guidewires and catheters during endovascular interventions.

LIBERTY is intended to support procedures involving the peripheral and coronary vasculature while potentially reducing physician exposure to radiation and improving procedural control.