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

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

IceCure Medical Stock Performance

ICCM opened at $1.25 on Friday. The company has a fifty day moving average price of $1.30 and a two-hundred day moving average price 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on ICCM shares. Alliance Global Partners raised their price target on shares of IceCure Medical from $1.90 to $2.90 and gave the company a “buy” rating in a report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of IceCure Medical in a report on Thursday.

Institutional Trading of IceCure Medical

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings 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 valued at $86,000 after buying an additional 20,159 shares during the period. Boothbay Fund Management LLC grew its holdings in shares of IceCure Medical by 100.0% in the 4th quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock valued at $62,000 after buying an additional 20,000 shares during the period. UBS Group AG grew its holdings in shares of IceCure Medical by 1,302.3% in the 4th quarter. UBS Group AG now owns 28,986 shares of the company’s stock valued at $45,000 after buying an additional 26,919 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of IceCure Medical in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 0.62% of the company’s stock.

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.