Restoration Robotics (HAIR) Lowered to Strong Sell at Zacks Investment Research

Restoration Robotics (NASDAQ:HAIR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Friday.

According to Zacks, “Restoration Robotics Inc. is a medical device company. It engaged in developing and commercializing the ARTAS(R) Robotic Hair Restoration System. The company serves physicians and patients primarily in the United States. Restoration Robotics Inc. is based in San Jose, California. “

Several other equities analysts also recently commented on HAIR. ValuEngine raised Restoration Robotics from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Maxim Group decreased their target price on Restoration Robotics from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 14th. Finally, William Blair assumed coverage on Restoration Robotics in a research report on Wednesday, September 26th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.44.



Shares of Restoration Robotics stock remained flat at $$1.63 on Friday. The stock had a trading volume of 67,200 shares, compared to its average volume of 188,025. Restoration Robotics has a 52 week low of $1.45 and a 52 week high of $8.20. The company has a quick ratio of 2.84, a current ratio of 3.19 and a debt-to-equity ratio of 32.03. The firm has a market capitalization of $54.25 million and a P/E ratio of -0.65.

Restoration Robotics (NASDAQ:HAIR) last posted its earnings results on Monday, July 30th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $5.48 million during the quarter, compared to analyst estimates of $4.91 million. Sell-side analysts predict that Restoration Robotics will post -0.74 EPS for the current year.

In related news, Director Frederic H. Moll purchased 333,333 shares of Restoration Robotics stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average price of $1.50 per share, with a total value of $499,999.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Interwest Partners Ix, Lp purchased 2,000,000 shares of Restoration Robotics stock in a transaction that occurred on Thursday, August 9th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $3,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased 2,399,999 shares of company stock worth $3,599,999 in the last three months. 37.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Northern Trust Corp acquired a new stake in Restoration Robotics during the first quarter worth approximately $273,000. SeaCrest Wealth Management LLC grew its position in Restoration Robotics by 72.9% during the second quarter. SeaCrest Wealth Management LLC now owns 51,565 shares of the company’s stock worth $179,000 after buying an additional 21,750 shares in the last quarter. Wells Fargo & Company MN grew its position in Restoration Robotics by 10,700.4% during the first quarter. Wells Fargo & Company MN now owns 57,566 shares of the company’s stock worth $359,000 after buying an additional 57,033 shares in the last quarter. Bainco International Investors acquired a new stake in Restoration Robotics during the second quarter worth approximately $224,000. Finally, BlackRock Inc. grew its position in Restoration Robotics by 97.1% during the first quarter. BlackRock Inc. now owns 113,599 shares of the company’s stock worth $708,000 after buying an additional 55,954 shares in the last quarter. 36.34% of the stock is currently owned by institutional investors and hedge funds.

About Restoration Robotics

Restoration Robotics, Inc, a medical device company, develops and commercializes image-guided robotic systems in the United States and internationally. The company offers ARTAS System, a physician-assisted robotic system that identifies and dissects hair follicular units directly from the scalp and creates recipient implant sites.

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