IceCure Medical (NASDAQ:ICCM) Announces Quarterly Earnings Results, Meets Expectations

IceCure Medical (NASDAQ:ICCM) posted its quarterly earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06), Zacks reports. IceCure Medical had a negative return on equity of 136.96% and a negative net margin of 317.62%.

IceCure Medical Stock Performance

NASDAQ ICCM traded down $0.01 on Wednesday, reaching $0.72. The stock had a trading volume of 276,254 shares, compared to its average volume of 919,767. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a fifty day moving average of $0.87 and a two-hundred day moving average of $0.96. IceCure Medical has a 1-year low of $0.56 and a 1-year high of $1.66. The company has a market cap of $49.26 million, a P/E ratio of -4.48 and a beta of 0.28.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ICCM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research report on Wednesday, October 8th. Zacks Research downgraded IceCure Medical from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. HC Wainwright lifted their price objective on shares of IceCure Medical from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Loop Capital set a $2.77 price objective on shares of IceCure Medical in a research report on Wednesday, August 13th. Finally, Brookline Capital Management restated a “buy” rating on shares of IceCure Medical in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.64.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.