Microbot Medical Inc. (NASDAQ:MBOT) Sees Large Growth in Short Interest
by Danessa Lincoln · The Markets DailyMicrobot Medical Inc. (NASDAQ:MBOT – Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 7,358,340 shares, an increase of 21.8% from the January 29th total of 6,040,735 shares. Approximately 11.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,709,221 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 3,709,221 shares, the days-to-cover ratio is currently 2.0 days. Approximately 11.5% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Microbot Medical in a report on Friday, November 28th. Roth Mkm began coverage on shares of Microbot Medical in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 target price for the company. Finally, B. Riley Financial initiated coverage on shares of Microbot Medical in a report on Tuesday, February 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Microbot Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.
View Our Latest Report on Microbot Medical
Hedge Funds Weigh In On Microbot Medical
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in Microbot Medical during the 3rd quarter worth approximately $4,435,000. Heights Capital Management Inc. bought a new stake in shares of Microbot Medical in the 3rd quarter valued at approximately $2,693,000. CIBC Private Wealth Group LLC increased its holdings in shares of Microbot Medical by 137.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,454,000 shares of the biotechnology company’s stock valued at $4,435,000 after acquiring an additional 842,000 shares during the last quarter. DNB Asset Management AS raised its position in shares of Microbot Medical by 178.1% during the 4th quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 433,869 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Microbot Medical by 14.3% during the third quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock worth $7,148,000 after purchasing an additional 292,923 shares during the last quarter. 16.30% of the stock is owned by hedge funds and other institutional investors.
Microbot Medical Price Performance
Shares of NASDAQ:MBOT opened at $2.45 on Thursday. The firm has a market capitalization of $164.54 million, a PE ratio of -5.44 and a beta of 1.22. The business has a 50-day moving average of $2.09 and a two-hundred day moving average of $2.55. Microbot Medical has a 12 month low of $1.33 and a 12 month high of $4.67.
About Microbot Medical
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.