Asensus Surgical Inc. (AMEX: ASXC) stock jumped 0.73% on Monday to $0.68 against a previous-day closing price of $0.67. With 1.67 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.01 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.7200 whereas the lowest price it dropped to was $0.6720. The 52-week range on ASXC shows that it touched its highest point at $0.93 and its lowest point at $0.28 during that stretch. It currently has a 1-year price target of $2.25. Beta for the stock currently stands at 1.47.
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 up-trending over the past week, with a rise of 13.25%, but this was up by 101.63% over a month. Three-month performance surged to 62.79% while six-month performance rose 37.77%. The stock lost -19.71% in the past year, while it has gained 95.76% so far this year. A look at the trailing 12-month EPS for ASXC yields -0.31 with Next year EPS estimates of -0.26. For the next quarter, that number is -0.08. This implies an EPS growth rate of 67.50% for this year and 28.10% for next year.
Float and Shares Shorts:
At present, 236.71 million ASXC shares are outstanding with a float of 234.37 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.8 million, which was 4.14% higher than short shares on Sep 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.
Through their ownership of 13.34% of ASXC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.15% of ASXC, in contrast to 5.74% held by mutual funds. Shares owned by individuals account for 1.59%. As the largest shareholder in ASXC with 4.79% of the stake, The Vanguard Group, Inc. holds 11,346,318 shares worth 11,346,318. A second-largest stockholder of ASXC, BlackRock Fund Advisors, holds 3,653,424 shares, controlling over 1.54% of the firm’s shares. Millennium Management LLC is the third largest shareholder in ASXC, holding 2,721,843 shares or 1.15% 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 3,248,502 shares valued at 1.13 million. Fidelity Extended Market Index Fu holds 0.52% of the stake in ASXC, owning 1,223,824 shares worth 0.42 million.
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 341.18% to reach the target high and rise by 120.59% to reach the target low. Reaching the average price target will result in a growth of 230.88% 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 02/27/2024. Analysts have provided yearly estimates in a range of -$0.31 being high and -$0.32 being low. For ASXC, this leads to a yearly average estimate of -$0.32. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.08. 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 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 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.