Microbot Medical Inc (NASDAQ:MBOT) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 26,400 shares, a drop of 63.4% from the July 31st total of 72,100 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 37,600 shares, the short-interest ratio is currently 0.7 days.
Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in Microbot Medical by 77.0% in the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 2,748 shares during the period. Geode Capital Management LLC acquired a new position in shares of Microbot Medical during the 4th quarter valued at about $38,000. JPMorgan Chase & Co. acquired a new position in shares of Microbot Medical during the 2nd quarter valued at about $45,000. BlackRock Inc. raised its holdings in Microbot Medical by 5.7% in the 2nd quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock valued at $945,000 after buying an additional 9,906 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Microbot Medical by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock valued at $1,065,000 after buying an additional 10,838 shares during the period. 14.79% of the stock is currently owned by hedge funds and other institutional investors.
MBOT has been the subject of a number of recent analyst reports. ValuEngine cut shares of Microbot Medical from a “buy” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Microbot Medical in a research note on Wednesday.
Shares of NASDAQ:MBOT traded down $0.03 during trading on Friday, hitting $6.27. 47,500 shares of the stock traded hands, compared to its average volume of 745,038. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.02. The company has a market cap of $27.57 million, a price-to-earnings ratio of -2.60 and a beta of 5.04. The company has a fifty day moving average price of $5.98 and a two-hundred day moving average price of $6.55. Microbot Medical has a 52-week low of $1.38 and a 52-week high of $19.40.
Microbot Medical (NASDAQ:MBOT) last posted its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. On average, equities research analysts predict that Microbot Medical will post -1.33 EPS for the current fiscal year.
About Microbot Medical
Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.
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