Microbot Medical (NASDAQ:MBOT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Microbot Medical (NASDAQ:MBOT) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

MBOT has been the subject of several other research reports. Loop Capital set a $4.00 price target on shares of Microbot Medical in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Microbot Medical in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.62.

Microbot Medical Price Performance

Shares of NASDAQ MBOT opened at $1.76 on Wednesday. The company has a quick ratio of 21.93, a current ratio of 22.59 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $118.22 million, a PE ratio of -6.77 and a beta of 1.04. The stock’s 50 day moving average price is $1.84 and its 200-day moving average price is $2.10. Microbot Medical has a twelve month low of $1.60 and a twelve month high of $4.67.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts anticipate that Microbot Medical will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Microbot Medical

Several large investors have recently modified their holdings of MBOT. CTC Alternative Strategies Ltd. bought a new position in Microbot Medical in the 1st quarter worth approximately $28,000. American Century Companies Inc. bought a new stake in Microbot Medical during the 2nd quarter valued at $32,000. Zacks Investment Management purchased a new stake in shares of Microbot Medical during the third quarter worth $33,000. Man Group plc purchased a new stake in shares of Microbot Medical during the fourth quarter worth $35,000. Finally, Squarepoint Ops LLC bought a new position in shares of Microbot Medical in the third quarter worth $37,000. Hedge funds and other institutional investors own 16.30% of the company’s stock.

Microbot Medical Company Profile

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.