Microbot Medical (NASDAQ:MBOT) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Microbot Medical (NASDAQ:MBOT) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

MBOT has been the subject of several other research reports. B. Riley Financial initiated coverage on Microbot Medical in a report on Friday, September 11th. They issued a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a research report on Wednesday, July 8th. Zacks Research cut Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a report on Wednesday, August 19th. Finally, Loop Capital set a $4.00 price objective on Microbot Medical in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Microbot Medical currently has a consensus rating of “Hold” and a consensus price target of $6.38.

Microbot Medical Price Performance

NASDAQ:MBOT opened at $1.36 on Friday. The company’s fifty day moving average price is $1.62 and its 200-day moving average price is $1.96. Microbot Medical has a 1-year low of $1.35 and a 1-year high of $3.74. The firm has a market capitalization of $91.35 million, a P/E ratio of -5.67 and a beta of 1.03.

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, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.13 million. Equities analysts anticipate that Microbot Medical will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

Hedge funds have recently modified their holdings of the company. CTC Alternative Strategies Ltd. acquired a new stake in shares of Microbot Medical during the 1st quarter valued at about $28,000. Bank of America Corp DE raised its holdings in Microbot Medical by 1,688.1% in the 1st quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock worth $183,000 after purchasing an additional 71,560 shares during the period. Cetera Investment Advisers raised its holdings in Microbot Medical by 44.7% in the 1st quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,099 shares during the period. Private Advisor Group LLC acquired a new position in Microbot Medical in the 1st quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Microbot Medical during the fourth quarter worth approximately $65,000. 16.30% of the stock is owned by hedge funds and other institutional investors.

Microbot Medical Company Profile

Microbot Medical Inc is a medical-device company focused on developing robotic and computer-assisted technologies for minimally invasive vascular procedures. The company’s primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use system designed to enable physicians to remotely control the navigation and positioning of guidewires and catheters during endovascular interventions.

LIBERTY is intended to support procedures involving the peripheral and coronary vasculature while potentially reducing physician exposure to radiation and improving procedural control.