Microbot Medical Inc. (MBOT) Sees Large Increase in Short Interest
Microbot Medical Inc. (NASDAQ:MBOT) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 2,085,839 shares, a growth of 45.2% from the July 31st total of 1,436,514 shares. Based on an average daily volume of 719,439 shares, the days-to-cover ratio is presently 2.9 days. Currently, 49.7% of the shares of the company are short sold.
In other Microbot Medical news, major shareholder Leon Lewkowicz sold 71,224 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $1.67, for a total value of $118,944.08. Following the completion of the transaction, the insider now owns 3,078,214 shares in the company, valued at $5,140,617.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 31.83% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Microbot Medical stock. Bank of Montreal Can boosted its position in shares of Microbot Medical Inc. (NASDAQ:MBOT) by 90,909.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,022 shares of the biotechnology company’s stock after buying an additional 20,000 shares during the period. Bank of Montreal Can owned 0.07% of Microbot Medical worth $116,000 as of its most recent filing with the SEC. 1.13% of the stock is currently owned by institutional investors and hedge funds.
Microbot Medical (MBOT) opened at 1.08 on Monday. The firm has a 50-day moving average price of $1.18 and a 200 day moving average price of $3.58. Microbot Medical has a 52-week low of $1.00 and a 52-week high of $15.66. The stock’s market cap is $47.56 million.
Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings data on Monday, August 14th. The biotechnology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.44. Equities analysts anticipate that Microbot Medical will post ($25.02) earnings per share for the current year.
Separately, ValuEngine upgraded Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
About Microbot Medical
Microbot Medical Inc, formerly StemCells, Inc, is a medical device company. The Company specializes in the researching, designing, developing and commercializing transformational micro-robotic medical technologies leveraging the artificial and natural lumens within the human body. It is engaged in developing its two product candidates: the Self Cleaning Shunt (SCS) for the treatment of hydrocephalus and normal pressure hydrocephalus (NPH), and TipCAT, a self-propelling, semi-disposable endoscope that the Company is developing for use in colonoscopy procedures.
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