Microbot Medical (NASDAQ:MBOT) Announces 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) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01), FiscalAI reports. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.01 million.

Microbot Medical Stock Performance

Shares of MBOT stock traded down $0.05 during mid-day trading on Friday, reaching $0.98. 867,060 shares of the company were exchanged, compared to its average volume of 1,297,094. Microbot Medical has a fifty-two week low of $0.93 and a fifty-two week high of $2.85. The company has a market capitalization of $65.70 million, a P/E ratio of -4.08 and a beta of 1.07. The business’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.80.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MBOT. Wall Street Zen downgraded shares of Microbot Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. Zacks Research cut shares of Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. B. Riley Financial started coverage on shares of Microbot Medical in a research report on Friday, September 11th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research note on Wednesday, October 21st. Finally, Citigroup started coverage on shares of Microbot Medical in a report on Friday, October 23rd. They set a “market outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.