Microbot Medical Inc (NASDAQ:MBOT) Sees Significant Drop in Short Interest

Microbot Medical Inc (NASDAQ:MBOT) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 26,400 shares, a decline of 63.4% from the July 31st total of 72,100 shares. Based on an average trading volume of 37,600 shares, the short-interest ratio is presently 0.7 days. Currently, 0.8% of the shares of the stock are short sold.

Shares of Microbot Medical stock traded down $0.03 during trading on Friday, reaching $6.27. 47,500 shares of the company’s stock were exchanged, compared to its average volume of 745,038. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.69 and a current ratio of 2.69. Microbot Medical has a 1-year low of $1.38 and a 1-year high of $19.40. The company has a market cap of $27.57 million, a P/E ratio of -2.60 and a beta of 5.04. The firm’s 50-day moving average price is $5.98 and its 200 day moving average price is $6.55.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. As a group, equities research analysts predict that Microbot Medical will post -1.33 EPS for the current year.

Several equities analysts have weighed in on the company. ValuEngine cut Microbot Medical from a “buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Microbot Medical in a report on Wednesday.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Microbot Medical by 77.0% during 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 in the last quarter. Geode Capital Management LLC acquired a new position in shares of Microbot Medical during the 4th quarter worth $38,000. JPMorgan Chase & Co. acquired a new position in shares of Microbot Medical during the 2nd quarter worth $45,000. BlackRock Inc. raised its holdings in shares of Microbot Medical by 5.7% during 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 in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Microbot Medical by 5.5% during 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 in the last quarter. 14.79% of the stock is owned by institutional investors.

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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