Microbot Medical Inc (NASDAQ:MBOT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 50,300 shares, a decline of 67.4% from the August 30th total of 154,200 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 101,100 shares, the short-interest ratio is currently 0.5 days.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley increased its position in Microbot Medical by 77.0% in the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock worth $32,000 after buying an additional 2,748 shares during the period. BlackRock Inc. increased its position in Microbot Medical by 5.7% in the 2nd quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock worth $945,000 after buying an additional 9,906 shares during the period. Renaissance Technologies LLC increased its position in Microbot Medical by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock worth $1,065,000 after buying an additional 10,838 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Microbot Medical during the second quarter valued at approximately $45,000. 14.79% of the stock is currently owned by institutional investors.
NASDAQ MBOT traded down $0.02 during trading on Friday, hitting $5.45. The company’s stock had a trading volume of 9,968 shares, compared to its average volume of 49,427. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $5.85 and a 200 day moving average price of $6.25. The firm has a market cap of $24.51 million, a P/E ratio of -2.26 and a beta of 4.99. Microbot Medical has a 52 week low of $1.38 and a 52 week high of $19.40.
Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.36) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.09. On average, equities analysts expect that Microbot Medical will post -1.33 earnings per share for the current year.
MBOT has been the topic of several recent analyst reports. ValuEngine downgraded Microbot Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Microbot Medical in a research report on Wednesday, September 11th. Finally, Zacks Investment Research raised Microbot Medical from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research report on Tuesday, September 24th.
Microbot Medical Company Profile
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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