IceCure Medical (NASDAQ:ICCM) Announces Quarterly Earnings Results

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

IceCure Medical Price Performance

NASDAQ ICCM opened at $1.25 on Friday. The company has a current ratio of 4.03, a quick ratio of 3.41 and a debt-to-equity ratio of 0.03. IceCure Medical has a 12-month low of $0.52 and a 12-month high of $1.57. The company has a 50 day moving average price of $1.30 and a two-hundred day moving average price of $1.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of IceCure Medical in a research report on Thursday. Alliance Global Partners boosted their target price on IceCure Medical from $1.90 to $2.90 and gave the company a “buy” rating in a research note on Wednesday, March 20th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Boothbay Fund Management LLC boosted its holdings in IceCure Medical by 100.0% in the fourth quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock worth $62,000 after purchasing an additional 20,000 shares in the last quarter. Bank of America Corp DE raised its position in shares of IceCure Medical by 57.2% in the fourth 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 period. UBS Group AG lifted its stake in shares of IceCure Medical by 1,302.3% in the fourth 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. Finally, JPMorgan Chase & Co. bought a new stake in shares of IceCure Medical during the 2nd quarter worth $78,000. Institutional investors and hedge funds own 0.62% of the company’s stock.

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.