Microbot Medical (NASDAQ:MBOT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Microbot Medical (NASDAQ:MBOT) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.11 million.

Microbot Medical Stock Performance

Shares of MBOT traded down $0.23 on Friday, hitting $2.39. 2,058,743 shares of the stock traded hands, compared to its average volume of 1,781,259. The company has a market capitalization of $160.51 million, a PE ratio of -8.24 and a beta of 1.22. The business has a 50 day simple moving average of $2.25 and a 200 day simple moving average of $2.42. Microbot Medical has a one year low of $1.35 and a one year high of $4.67.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MBOT. B. Riley Financial began coverage on Microbot Medical in a research note on Tuesday, February 10th. They set a “buy” rating for the company. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research note on Friday, November 28th. Finally, Roth Mkm initiated coverage on Microbot Medical in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microbot Medical presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Hedge Funds Weigh In On Microbot Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Microbot Medical by 38.8% during the 4th quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 8,201 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Microbot Medical in the third quarter worth $33,000. Squarepoint Ops LLC purchased a new position in shares of Microbot Medical in the third quarter worth $37,000. American Century Companies Inc. bought a new position in shares of Microbot Medical during the second quarter valued at $32,000. Finally, Wexford Capital LP bought a new position in shares of Microbot Medical during the third quarter valued at $50,000. 16.30% of the stock is owned by institutional investors.

Microbot Medical Company Profile

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.