IceCure Medical (NASDAQ:ICCM) Stock Rating Upgraded by Wall Street Zen

IceCure Medical (NASDAQ:ICCM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Maxim Group dropped their price target on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Zacks Research cut IceCure Medical from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, IceCure Medical has an average rating of “Hold” and a consensus price target of $52.50.

IceCure Medical Price Performance

ICCM stock opened at $2.23 on Friday. The firm has a market cap of $7.65 million, a price-to-earnings ratio of -0.26 and a beta of 0.45. The company’s fifty day simple moving average is $3.24 and its 200 day simple moving average is $8.08. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($1.60) earnings per share for the quarter. IceCure Medical had a negative return on equity of 174.26% and a negative net margin of 427.67%.The business had revenue of $0.91 million for the quarter. Research analysts expect that IceCure Medical will post -4.61 earnings per share for the current year.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently bought a new position in IceCure Medical stock. Jane Street Group LLC bought a new stake in IceCure Medical Ltd. (NASDAQ:ICCM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 109,638 shares of the company’s stock, valued at approximately $67,000. Jane Street Group LLC owned approximately 0.16% of IceCure Medical at the end of the most recent reporting period. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

About IceCure Medical

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.