IceCure Medical (NASDAQ:ICCM) Posts Earnings Results, Beats Estimates By $0.01 EPS

IceCure Medical (NASDAQ:ICCM) posted its quarterly earnings data on Wednesday. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, Yahoo Finance reports. The company had revenue of $1.26 million for the quarter. IceCure Medical had a negative return on equity of 77.41% and a negative net margin of 535.84%. During the same period in the prior year, the firm earned ($0.11) earnings per share.

IceCure Medical Stock Performance

Shares of NASDAQ ICCM traded down $0.00 during trading on Friday, reaching $1.25. 45,724 shares of the stock traded hands, compared to its average volume of 544,011. The company has a 50-day moving average of $1.30 and a 200-day moving average of $1.07. The company has a quick ratio of 3.41, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. IceCure Medical has a 52-week low of $0.52 and a 52-week high of $1.57.

Hedge Funds Weigh In On IceCure Medical

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in shares of IceCure Medical by 57.2% in the 4th quarter. Bank of America Corp DE now owns 55,388 shares of the company’s stock worth $86,000 after buying an additional 20,159 shares during the last quarter. Boothbay Fund Management LLC raised its stake in shares of IceCure Medical by 100.0% in the fourth quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock worth $62,000 after purchasing an additional 20,000 shares during the last quarter. UBS Group AG increased its position in IceCure Medical by 1,302.3% during the fourth quarter. UBS Group AG now owns 28,986 shares of the company’s stock valued at $45,000 after acquiring an additional 26,919 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in IceCure Medical during the second quarter valued at about $78,000. 0.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICCM has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of IceCure Medical in a research note on Thursday. Alliance Global Partners lifted their price objective on IceCure Medical from $1.90 to $2.90 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and commercialization of medical devices for cryoablation (freezing) of tumors in the human body. It offers ProSense system, a single probe system for the treatment of breast tumors; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.