Wall Street Zen Upgrades IceCure Medical (NASDAQ:ICCM) to Sell

IceCure Medical (NASDAQ:ICCM) was upgraded by research analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Sunday.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a research report on Tuesday, April 21st. Maxim Group decreased their target price on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Alliance Global Partners assumed coverage on shares of IceCure Medical in a report on Monday, May 4th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.70.

IceCure Medical Trading Down 6.2%

Shares of NASDAQ ICCM traded down $0.24 during trading on Friday, reaching $3.65. 125,819 shares of the company traded hands, compared to its average volume of 10,145,935. The firm’s fifty day simple moving average is $5.70 and its 200 day simple moving average is $12.69. The stock has a market cap of $12.52 million, a P/E ratio of -0.51 and a beta of 0.43. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $0.91 million during the quarter, compared to analyst estimates of $1.34 million. IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. As a group, research analysts expect that IceCure Medical will post -3.51 EPS for the current year.

Institutional Investors Weigh In On IceCure Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in IceCure Medical during the fourth quarter worth $39,000. Concurrent Investment Advisors LLC acquired a new stake in shares of IceCure Medical in the fourth quarter valued at about $48,000. Finally, Jane Street Group LLC purchased a new stake in shares of IceCure Medical during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.