Microbot Medical (NASDAQ:MBOT) Downgraded by ValuEngine to “Sell”

Microbot Medical (NASDAQ:MBOT) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

MBOT has been the subject of a number of other reports. Zacks Investment Research raised shares of Microbot Medical from a “sell” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, January 1st. HC Wainwright lifted their price target on shares of Microbot Medical from $12.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Shares of MBOT stock traded down $0.65 during trading hours on Tuesday, reaching $11.82. 628,900 shares of the stock were exchanged, compared to its average volume of 1,758,223. Microbot Medical has a 12-month low of $4.48 and a 12-month high of $20.15. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $9.55 and its 200-day moving average price is $6.55. The firm has a market capitalization of $74.26 million, a price-to-earnings ratio of -5.91 and a beta of 5.22.

Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings results on Thursday, November 14th. The biotechnology company reported ($0.44) EPS for the quarter, hitting analysts’ consensus estimates of ($0.44). On average, sell-side analysts expect that Microbot Medical will post -1.56 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in Microbot Medical by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock valued at $1,065,000 after buying an additional 10,838 shares in the last quarter. BlackRock Inc. lifted its holdings in Microbot Medical by 5.7% during the 2nd quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock valued at $945,000 after buying an additional 9,906 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Microbot Medical during the 2nd quarter valued at about $45,000. Finally, Morgan Stanley lifted its holdings in Microbot Medical by 77.0% during the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 2,748 shares in the last quarter. Institutional investors own 9.74% of the company’s stock.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.

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