IceCure Medical Ltd. (NASDAQ:ICCM) Receives Consensus Rating of “Hold” from Analysts

IceCure Medical Ltd. (NASDAQ:ICCM) has been given an average rating of “Hold” by the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $2.09.

A number of equities analysts recently weighed in on ICCM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of IceCure Medical from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Alliance Global Partners began coverage on shares of IceCure Medical in a research report on Monday, May 4th. They set a “buy” rating on the stock. Finally, Maxim Group decreased their target price on shares of IceCure Medical from $3.00 to $1.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th.

Institutional Investors Weigh In On IceCure Medical

Several institutional investors and hedge funds have recently made changes to their positions in ICCM. Virtu Financial LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth about $39,000. Concurrent Investment Advisors LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth about $48,000. Finally, Jane Street Group LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth about $67,000. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

IceCure Medical Trading Down 30.9%

Shares of ICCM opened at $0.14 on Friday. The firm has a market cap of $11.29 million, a PE ratio of -0.58 and a beta of 0.40. The company’s 50 day simple moving average is $0.31 and its 200-day simple moving average is $0.53. IceCure Medical has a 12-month low of $0.13 and a 12-month high of $1.40.

IceCure Medical’s stock is set to reverse split on Thursday, June 4th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, June 3rd.

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 analysts’ consensus estimates of ($0.03) by ($0.03). IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. The firm had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $1.34 million. As a group, equities research analysts forecast that IceCure Medical will post -0.15 EPS for the current fiscal year.

IceCure Medical Company Profile

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.