Microbot Medical (NASDAQ:MBOT) Releases Earnings Results, Beats Estimates By $0.03 EPS

Microbot Medical (NASDAQ:MBOT) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03, FiscalAI reports. The firm had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.45 million.

Microbot Medical Stock Down 0.9%

Shares of Microbot Medical stock traded down $0.02 during trading on Wednesday, reaching $2.17. 1,404,304 shares of the company traded hands, compared to its average volume of 1,407,237. Microbot Medical has a 1-year low of $1.60 and a 1-year high of $4.67. The company has a 50 day moving average price of $2.38 and a 200-day moving average price of $2.21.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Microbot Medical during the 4th quarter valued at $117,000. Invesco Ltd. acquired a new position in shares of Microbot Medical during the 4th quarter valued at $49,000. XTX Topco Ltd acquired a new position in shares of Microbot Medical during the 4th quarter valued at $63,000. Man Group plc acquired a new position in shares of Microbot Medical during the 4th quarter valued at $35,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Microbot Medical during the 4th quarter valued at $222,000. Institutional investors and hedge funds own 16.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MBOT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a research report on Friday, April 10th. B. Riley Financial started coverage on shares of Microbot Medical in a research report on Tuesday, February 10th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Microbot Medical in a research report on Tuesday, April 14th. Finally, Wall Street Zen downgraded shares of Microbot Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.50.

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.