Mazor Robotics Stock Sinks Amid Insider Trading Buzz

MZOR stock was up 164% in 2017, prior to today

by Andrea Kramer

Published on Dec 4, 2017 at 9:39 AM

While most U.S. stocks are higher out of the gate, the shares of medical device maker Mazor Robotics Ltd (NASDAQ:MZOR) are bucking the trend, down 2.8% to trade at $56.11. MZOR stock is reeling amid reports that CEO Ori Hadomi is being investigated for insider trading related to Medtronic's (MDT) investment in Mazor back in 2016.

Prior to today, MZOR stock was up roughly 164% in 2017, touching a record high of $65.97 on Oct. 31. The equity is now on track to breach its 50-day moving average for the first time since mid-August.

Quite a few short sellers could be cheering. While short interest dwindled during the past two reporting periods, it still accounts for more than 10% of MZOR stock's total available float. Analysts, on the other hand, have remained skeptical, despite Mazor Robotics' long-term uptrend. Just one of five analysts considers the security a "buy" or better.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Cannabis Stock Rally Cut Short after Downgrade
Aurora Cannabis did receive a price-target hike from Jefferies, though
Vaccines, China Trigger Roller Coaster Week for Stocks
Moderna's vaccine captured the attention of Wall Street
Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.