Microbot Medical (NASDAQ:MBOT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Microbot Medical (NASDAQ:MBOT) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02, FiscalAI reports. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.11 million.

Microbot Medical Price Performance

MBOT stock traded down $0.23 during midday trading on Friday, hitting $2.39. The company’s stock had a trading volume of 2,058,743 shares, compared to its average volume of 1,781,259. The stock has a market capitalization of $160.51 million, a P/E ratio of -8.24 and a beta of 1.22. The company’s fifty day moving average price is $2.25 and its 200 day moving average price is $2.42. Microbot Medical has a twelve month low of $1.35 and a twelve month high of $4.67.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MBOT shares. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research note on Friday, November 28th. Roth Mkm began coverage on Microbot Medical in a report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price target on the stock. Finally, B. Riley Financial initiated coverage on Microbot Medical in a report on Tuesday, February 10th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MBOT. Cetera Investment Advisers increased its holdings in shares of Microbot Medical by 38.8% during the fourth quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 8,201 shares during the period. Zacks Investment Management acquired a new stake in Microbot Medical during the third quarter worth approximately $33,000. Squarepoint Ops LLC acquired a new stake in Microbot Medical during the third quarter worth approximately $37,000. American Century Companies Inc. bought a new position in Microbot Medical during the 2nd quarter worth $32,000. Finally, Wexford Capital LP bought a new position in Microbot Medical during the 3rd quarter worth $50,000. 16.30% of the stock is currently owned by institutional investors.

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.