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

Zacks Research cut shares of Microbot Medical (NASDAQ:MBOT) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

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

Microbot Medical Price Performance

Shares of MBOT opened at $1.50 on Thursday. The firm has a market capitalization of $100.75 million, a PE ratio of -6.25 and a beta of 1.06. The company’s 50-day moving average is $1.78 and its 200-day moving average is $2.05. Microbot Medical has a fifty-two week low of $1.44 and a fifty-two week high of $4.67.

Microbot Medical (NASDAQ:MBOT) last posted its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.13 million. Analysts predict that Microbot Medical will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Microbot Medical

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in shares of Microbot Medical by 38.8% in the fourth quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 8,201 shares during the period. Zacks Investment Management bought a new stake in Microbot Medical during the third quarter worth about $33,000. CTC Alternative Strategies Ltd. bought a new stake in Microbot Medical during the first quarter worth about $28,000. Squarepoint Ops LLC acquired a new stake in Microbot Medical during the third quarter worth about $37,000. Finally, American Century Companies Inc. acquired a new stake in Microbot Medical during the second quarter worth about $32,000. 16.30% of the stock is owned by institutional investors and hedge funds.

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.