Microbot Medical (NASDAQ:MBOT) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Microbot Medical (NASDAQ:MBOT) released its quarterly earnings results on Friday. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01), FiscalAI reports. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.01 million.

Microbot Medical Price Performance

Microbot Medical stock traded down $0.05 during mid-day trading on Friday, hitting $0.98. 879,342 shares of the company were exchanged, compared to its average volume of 903,860. The business’s 50 day simple moving average is $1.16 and its two-hundred day simple moving average is $1.80. The company has a market capitalization of $65.74 million, a P/E ratio of -4.08 and a beta of 1.07. Microbot Medical has a 12-month low of $0.93 and a 12-month high of $2.85.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Microbot Medical in a research note on Wednesday, October 21st. Wall Street Zen cut shares of Microbot Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. Citigroup began coverage on shares of Microbot Medical in a report on Friday, October 23rd. They issued a “market outperform” rating on the stock. Citizens Jmp assumed coverage on shares of Microbot Medical in a report on Friday, October 23rd. They issued a “market outperform” rating and a $2.50 price target on the stock. Finally, B. Riley Financial initiated coverage on shares of Microbot Medical in a research report on Friday, September 11th. They issued a “buy” rating and a $4.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.08.

About Microbot Medical

Microbot Medical is a medical-device company developing robotic technologies for endovascular procedures. Its work focuses on tools intended to help physicians navigate blood vessels and perform minimally invasive interventions. The company’s lead platform, LIBERTY, is a remotely operated robotic system designed for endovascular procedures. The system is intended to work with guidewires and catheters and to support physicians in controlling these devices during treatment. Microbot Medical is based in the United States and has roots in Israel.