IceCure Medical (NASDAQ:ICCM) Trading Down 4.9% – What’s Next?

IceCure Medical Ltd. (NASDAQ:ICCM) dropped 4.9% during trading on Thursday . The stock traded as low as $0.70 and last traded at $0.71. Approximately 573,566 shares were traded during trading, a decline of 75% from the average daily volume of 2,311,765 shares. The stock had previously closed at $0.7468.

Analysts Set New Price Targets

ICCM has been the subject of several research analyst reports. Brookline Capital Management reiterated a “buy” rating on shares of IceCure Medical in a research note on Wednesday, August 13th. Zacks Research downgraded IceCure Medical from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. HC Wainwright boosted their price objective on IceCure Medical from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wall Street Zen cut IceCure Medical from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, IceCure Medical has an average rating of “Moderate Buy” and a consensus price target of $2.64.

IceCure Medical Trading Down 4.9%

The company has a market cap of $48.78 million, a P/E ratio of -4.44 and a beta of 0.31. The business has a fifty day moving average price of $0.96 and a 200-day moving average price of $1.00. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

IceCure Medical (NASDAQ:ICCM) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.12. IceCure Medical had a negative net margin of 317.62% and a negative return on equity of 136.96%. The company had revenue of $0.66 million during the quarter, compared to the consensus estimate of $0.90 million. On average, analysts forecast that IceCure Medical Ltd. will post -0.28 earnings per share for the current year.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.