IceCure Medical (NASDAQ:ICCM) Posts Earnings Results, Hits Expectations

IceCure Medical (NASDAQ:ICCM) issued its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06), Zacks reports. IceCure Medical had a negative net margin of 317.62% and a negative return on equity of 136.96%.

IceCure Medical Stock Performance

ICCM stock traded down $0.01 during midday trading on Wednesday, reaching $0.71. 258,589 shares of the company’s stock traded hands, compared to its average volume of 919,733. The firm has a market capitalization of $49.05 million, a PE ratio of -4.48 and a beta of 0.28. The company has a 50-day moving average price of $0.87 and a two-hundred day moving average price of $0.96. IceCure Medical has a 52 week low of $0.56 and a 52 week high of $1.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 1.18.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research lowered shares of IceCure Medical from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Loop Capital set a $2.77 price target on shares of IceCure Medical in a report on Wednesday, August 13th. Brookline Capital Management reiterated a “buy” rating on shares of IceCure Medical in a research note on Wednesday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research report on Wednesday, October 8th. Finally, HC Wainwright upped their price target on IceCure Medical from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.64.

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.