The stock of Microbot Medical Inc. (NASDAQ:MBOT) is now priced at $6.59 and the shares are -0.06 points down or -0.9% lower compared to its previous closing price of $6.65. The stock had 101963 contracts set over the past session. MBOT shares’ daily volume is compared to its average trading volume at 344109 shares. However, it has a float of 6.51 million and although its performance was 4.77% over the week, it’s one to watch. MBOT share price recently placing at $6.52 to $6.71. However, some brokerage firms have priced the stock below the average, including one that has called $19.
The shorts are climbing into the Microbot Medical Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the MBOT shares have risen. Short interest in the stock represents just 3.1% of its float, but the volume has raised by 36946. The volume of shorted shares rised to 201805 from 164859 shares over the last two weeks. The average intraday trading volume has been 96105 shares, which means that days to cover moved to roughly 2.099839.
In the last trading session, Microbot Medical Inc. (NASDAQ:MBOT) raised by $0.3 over the week and lost -$0.11 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $20.15. The stock recorded its established 52-week high on 12/24/19.
Since 03/16/20, the stock has traded to a low of $4.3 at 53.26%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 4.24. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Microbot Medical Inc.’s two-week RSI is 46.89. This suggests that the stock is neutral at the moment and that MBOT shares’ price movement remains stable. The stochastic readings are equally revealing at 35.44% meaning the MBOT share price is currently in neutral territory.
The technical chart shows that the MBOT stock will likely settle at between $6.69 and $6.8 per share. However, if the stock dips below $6.5, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.42.
Currently, the stock is trading in the green of MACD, with a reading of 0.02. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright though raised target price of MBOT stock from $12 to $26 but maintained Buy recommendation in their January 13 review. H.C. Wainwright analysts see the stock as a Buy, but they also raised the share’s target price from $10 to $12 in a flash note released to investors on December 24. Ladenburg Thalmann analysts see the stock as Buy when the analysts initiated the share price coverage on January 31, placing it at $1.75.
The average rating for the MBOT equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Microbot Medical Inc. polled by Reuters, 0 rated MBOT as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MBOT stocks P/S ratio currently stands at 0below the group’s average of 60.2. Microbot Medical Inc. has its P/E ratio at 1.6, which means that the stock is currently trading at a discount relative to the 5.4 industry average.