Microbot Medical (NASDAQ:MBOT) Lowered to “Hold” Rating by Zacks Research

Microbot Medical (NASDAQ:MBOT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

MBOT has been the subject of a number of other reports. B. Riley Financial reiterated a “buy” rating and issued a $4.00 price objective (down from $5.00) on shares of Microbot Medical in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. HC Wainwright reaffirmed a “buy” rating on shares of Microbot Medical in a report on Wednesday. Wall Street Zen upgraded Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Loop Capital set a $4.00 price objective on Microbot Medical in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Microbot Medical presently has an average rating of “Hold” and an average target price of $6.38.

Microbot Medical Stock Up 0.7%

MBOT opened at $1.50 on Thursday. The company has a market capitalization of $100.75 million, a price-to-earnings ratio of -6.25 and a beta of 1.06. The firm has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.05. Microbot Medical has a twelve month low of $1.44 and a twelve month high of $4.67.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.13 million. On average, sell-side analysts expect that Microbot Medical will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Microbot Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. bought a new position in Microbot Medical in the 1st quarter valued at $28,000. American Century Companies Inc. bought a new position in shares of Microbot Medical in the second quarter worth $32,000. Zacks Investment Management bought a new position in shares of Microbot Medical in the third quarter worth $33,000. Man Group plc purchased a new stake in shares of Microbot Medical in the fourth quarter worth $35,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Microbot Medical in the third quarter worth $37,000. Institutional investors own 16.30% of the company’s stock.

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.