Alliance Global Partners lowered the firm’s price target on Motus GI Holdings to $8.30 from a reverse-split-adjusted $20.25 and keeps a Buy rating on the shares after Motus GI reported Q3 results slightly ahead of the firm’s expectations. The reduction in the firm’s target “stems entirely” from a reduction in its revenue multiple as the company has less than 6 months of cash remaining and investors should expect dilution, the analyst says.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MOTS:
- Motus GI Reports Third Quarter 2023 Financial Results and Provides Corporate Update
- Motus GI Holdings announces use of FDA cleared Pure-Vu EVS Gastro
- Motus GI Holdings announces 1-for-15 reverse stock split
- Motus receives FDA clearance to commercialize Pure-Vu EVS Gastro, Gen 4 Colon
- Motus GI Holdings files to sell common stock, no amount given