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

IceCure Medical (NASDAQ:ICCM) issued its earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, Yahoo Finance reports. The firm 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 quarter in the previous year, the business posted ($0.11) earnings per share.

IceCure Medical Stock Performance

IceCure Medical stock opened at $1.25 on Friday. IceCure Medical has a 52 week low of $0.52 and a 52 week high of $1.57. The company has a quick ratio of 3.41, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.07.

Institutional Trading of IceCure Medical

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in IceCure Medical during the 2nd quarter valued at about $78,000. UBS Group AG boosted its holdings in 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 purchasing an additional 26,919 shares in the last quarter. Boothbay Fund Management LLC raised its holdings in IceCure Medical by 100.0% during the fourth quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock valued at $62,000 after buying an additional 20,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings 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 worth $86,000 after purchasing an additional 20,159 shares during the last quarter. 0.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About IceCure Medical

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.