Microbot Medical Inc. (NASDAQ:MBOT) Rises with Large Volumes and No News

Microbot Medical Inc. (NASDAQ:MBOT)

Microbot Medical Inc. (NASDAQ:MBOT) shares have been up on huge volumes. MBOT closed Monday at $5.80 and took off this morning when it opened at $5.76 then hit $6.97 in less than an hour. Volumes are very heavy. MBOT shares average about 435,000 shares traded daily but this morning already 1.2 million shares have traded hands in the first hour of trading. No news has been released that might account for this much activity.

Microbot Medical Inc. (NASDAQ:MBOT) specializes in transformational micro-robotic medical technologies leveraging the natural and artificial lumens within the human body. Microbot Medical Inc. (NASDAQ:MBOT) current platforms, ViRob and TipCAT, are comprised of two highly advanced micro-robotic technologies, from which the Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures.

Shares of Microbot Medical Inc. (NASDAQ:MBOT) are down over 85% for the year but up over 12% for the month. Trader chat rooms are wondering what the fuel is that is pushing shares higher on such large volumes. An internet search on mainstream financial news websites revealed no news being released on the company today.

Microbot Medical Inc. (NASDAQ:MBOT) had its worst year for sales in 2015 – it reported a figure of just $100,000. EPS losses draw the most attention though. In 2011, MBOT lost $162.36 EPS. That figure was narrower in 2015 when Microbot reported an EPS loss of $41.05. In the meantime, the number of outstanbding shares has increased every year since 2011 when it had 130,000 shares outstanding. In 2015 that number had grown to 890,000. The sole firm that covers Microbot Medical Inc. (NASDAQ:MBOT) rates the shares a “Hold”.

2/28/2017
Ticker Symbol MBOT
Last Price a/o 10:18 AM EST  $                      6.76
Average Volume                    435,350
Market Cap (mlns)  $                  165.42
Sales (mlns) $0.10
Shares Outstanding (mlns) 28.52
Share Float (mlns) 5.6
Shortable Yes
Optionable No
Inside Ownership 4.50%
Short Float 6.59%
Short Interest Ratio 0.85
Quarterly Return -46.74%
YTD Return -4.92%
Year Return -85.49%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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