Does Asensus Surgical Inc. (ASXC) offer a good opportunity for investors?

Asensus Surgical Inc. (AMEX: ASXC) stock fell -2.14% on Monday to $0.28 against a previous-day closing price of $0.29. With 2.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.76 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.3150 whereas the lowest price it dropped to was $0.2838. The 52-week range on ASXC shows that it touched its highest point at $1.18 and its lowest point at $0.27 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 1.63.

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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 -10.22%, but this was up by 1.00% over a month. Three-month performance dropped to -46.45% while six-month performance fell -53.08%. The stock lost -48.08% in the past year, while it has lost -18.24% so far this year. A look at the trailing 12-month EPS for ASXC yields -0.34 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.07. This implies an EPS growth rate of -16.10% for this year and 22.60% for next year.

Float and Shares Shorts:

At present, 263.87 million ASXC shares are outstanding with a float of 259.20 million shares on hand for trading. On Aug 30, 2023, short shares totaled 10.96 million, which was 4.15% higher than short shares on Jul 30, 2023. 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 11.52% of ASXC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.75% of ASXC, in contrast to 4.81% held by mutual funds. Shares owned by individuals account for 1.91%. As the largest shareholder in ASXC with 4.29% of the stake, The Vanguard Group, Inc. holds 11,307,983 shares worth 11,307,983. A second-largest stockholder of ASXC, BlackRock Fund Advisors, holds 3,689,677 shares, controlling over 1.40% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in ASXC, holding 2,108,122 shares or 0.80% stake. With a 2.93% stake in ASXC, the Vanguard Total Stock Market ETF 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 1.22% of ASXC stock, is the second-largest Mutual Fund holder. It holds 3,205,099 shares valued at 0.95 million. Fidelity Extended Market Index Fu holds 0.45% of the stake in ASXC, owning 1,199,060 shares worth 0.36 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ASXC reported revenue of $994.00k and operating income of -$19.73M. The EBITDA in the recently reported quarter was -$17.03M and diluted EPS was -$0.08.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASXC since 0 analysts follow the stock currently. 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 $2.00 and a low target of $1.00, the average target price over the next 12 months is $1.50. Based on these targets, ASXC could surge 614.29% to reach the target high and rise by 257.14% to reach the target low. Reaching the average price target will result in a growth of 435.71% 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.

Summary of Insider Activity:

Insiders traded ASXC stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 16,666 shares were bought while 6,975 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 1,855,257 while 652,699 shares were sold.

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