Are Smart Investors Making the Right Decision? Asensus Surgical Inc. (ASXC)

Asensus Surgical Inc. (AMEX: ASXC) stock jumped 5.45% on Wednesday to $0.44 against a previous-day closing price of $0.41. With 1.28 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.41 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.4900 whereas the lowest price it dropped to was $0.4200. The 52-week range on ASXC shows that it touched its highest point at $2.31 and its lowest point at $0.35 during that stretch. It currently has a 1-year price target of $2.25. Beta for the stock currently stands at 1.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASXC was down-trending over the past week, with a drop of -14.51%, but this was down by -26.07% over a month. Three-month performance surged to 4.69% while six-month performance fell -29.93%. The stock lost -76.09% in the past year, while it has lost -60.58% so far this year. A look at the trailing 12-month EPS for ASXC yields -0.30 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.07. This implies an EPS growth rate of 67.50% for this year and 25.80% for next year.

Float and Shares Shorts:

At present, 236.50 million ASXC shares are outstanding with a float of 234.25 million shares on hand for trading. On Jul 14, 2022, short shares totaled 9.48 million, which was 4.01% higher than short shares on Jun 14, 2022. In addition to Mr. Anthony Fernando as the firm’s Pres, CEO & Director, Mr. Shameze Rampertab B.Sc. MBA, CA, CPA serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 23.22% of ASXC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.80% of ASXC, in contrast to 6.13% held by mutual funds. Shares owned by individuals account for 1.60%. As the largest shareholder in ASXC with 4.55% of the stake, The Vanguard Group, Inc. holds 10,770,414 shares worth 10,770,414. A second-largest stockholder of ASXC, Millennium Management LLC, holds 5,040,838 shares, controlling over 2.13% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ASXC, holding 3,674,008 shares or 1.55% stake. With a 3.27% stake in ASXC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 7,734,650 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.37% of ASXC stock, is the second-largest Mutual Fund holder. It holds 3,243,434 shares valued at 1.75 million. Fidelity Extended Market Index Fu holds 0.52% of the stake in ASXC, owning 1,233,608 shares worth 0.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASXC since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASXC analysts setting a high price target of $3.00 and a low target of $1.50, the average target price over the next 12 months is $2.25. Based on these targets, ASXC could surge 581.82% to reach the target high and rise by 240.91% to reach the target low. Reaching the average price target will result in a growth of 411.36% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ASXC will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$0.31 being high and -$0.31 being low. For ASXC, this leads to a yearly average estimate of -$0.31. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Asensus Surgical Inc. surprised analysts by $0.01 when it reported -$0.07 EPS against a consensus estimate of -$0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.07. The average estimate for the next quarter is thus -$0.07.

Summary of Insider Activity:

Insiders traded ASXC stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 16,667 shares were bought while 7,015 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 2,941,663 while 470,238 shares were sold.

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