IceCure Medical (NASDAQ:ICCM) Announces Earnings Results, Beats Expectations By $0.01 EPS

IceCure Medical (NASDAQ:ICCM) released its earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, Yahoo Finance reports. IceCure Medical had a negative net margin of 535.84% and a negative return on equity of 77.41%. The firm had revenue of $1.26 million during the quarter. During the same quarter in the previous year, the firm posted ($0.11) earnings per share.

IceCure Medical Price Performance

ICCM traded down $0.00 during trading on Friday, hitting $1.25. 45,724 shares of the company’s stock were exchanged, compared to its average volume of 544,011. The stock has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 3.41. IceCure Medical has a 1 year low of $0.52 and a 1 year high of $1.57.

Analysts Set New Price Targets

ICCM has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of IceCure Medical in a report on Thursday. Alliance Global Partners boosted their price objective on shares of IceCure Medical from $1.90 to $2.90 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ICCM. UBS Group AG lifted its position in shares of IceCure Medical by 1,302.3% in the 4th quarter. UBS Group AG now owns 28,986 shares of the company’s stock worth $45,000 after buying an additional 26,919 shares during the last quarter. Boothbay Fund Management LLC lifted its position in shares of IceCure Medical by 100.0% in the 4th quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock worth $62,000 after buying an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of IceCure Medical in the 2nd quarter worth about $78,000. Finally, Bank of America Corp DE lifted its position in IceCure Medical by 57.2% in the 4th quarter. Bank of America Corp DE now owns 55,388 shares of the company’s stock valued at $86,000 after purchasing an additional 20,159 shares during the last quarter. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and commercialization of medical devices for cryoablation (freezing) of tumors in the human body. It offers ProSense system, a single probe system for the treatment of breast tumors; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.