IceCure Medical (NASDAQ:ICCM) Raised to “Strong-Buy” at Alliance Global Partners

IceCure Medical (NASDAQ:ICCM) was upgraded by equities research analysts at Alliance Global Partners to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Separately, HC Wainwright reissued a “buy” rating and set a $2.50 price target on shares of IceCure Medical in a research report on Thursday, September 12th.

IceCure Medical Trading Up 4.8 %

Shares of ICCM opened at $0.85 on Friday. The company has a quick ratio of 2.54, a current ratio of 2.97 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $0.63 and a 200-day moving average price of $0.78. IceCure Medical has a fifty-two week low of $0.48 and a fifty-two week high of $1.57.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results on Tuesday, August 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $0.90 million. IceCure Medical had a negative return on equity of 111.27% and a negative net margin of 410.22%. During the same quarter last year, the firm earned ($0.09) EPS. As a group, research analysts forecast that IceCure Medical will post -0.27 EPS for the current year.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently bought a new stake in IceCure Medical stock. Renaissance Technologies LLC purchased a new position in shares of IceCure Medical Ltd (NASDAQ:ICCM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned about 0.15% of IceCure Medical as of its most recent filing with the Securities & Exchange Commission. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.