H.C. Wainwright slashes price target on Asensus Surgical Inc. [ASXC] – find out why.

Asensus Surgical Inc. [AMEX: ASXC] stock went on an upward path that rose over 2.17% on Friday, amounting to a one-week price increase of more than 3.12%. The company report on June 8, 2021 that Asensus Surgical to Join the Russell 2000® and Russell Microcap® Indexes.

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Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™, announced that the company will be added to the Russell 2000® and Russell Microcap® Indexes at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Over the last 12 months, ASXC stock rose by 508.63%. The one-year Asensus Surgical Inc. stock forecast points to a potential upside of 17.5. The average equity rating for ASXC stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $753.19 million, with 233.22 million shares outstanding and 228.96 million shares in the current float. Compared to the average trading volume of 12.22M shares, ASXC stock reached a trading volume of 34541120 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Asensus Surgical Inc. [ASXC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASXC shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASXC stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Asensus Surgical Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 26, 2021.

The Average True Range (ATR) for Asensus Surgical Inc. is set at 0.31, with the Price to Sales ratio for ASXC stock in the period of the last 12 months amounting to 160.25. The Price to Book ratio for the last quarter was 3.30.

ASXC Stock Performance Analysis:

Asensus Surgical Inc. [ASXC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.12. With this latest performance, ASXC shares gained by 32.53% in over the last four-week period, additionally plugging by 482.83% over the last 6 months – not to mention a rise of 508.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASXC stock in for the last two-week period is set at 58.63, with the RSI for the last a single of trading hit 58.05, and the three-weeks RSI is set at 57.31 for Asensus Surgical Inc. [ASXC]. The present Moving Average for the last 50 days of trading for this stock 2.42, while it was recorded at 3.21 for the last single week of trading, and 2.02 for the last 200 days.

Insight into Asensus Surgical Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Asensus Surgical Inc. [ASXC] shares currently have an operating margin of -1783.12 and a Gross Margin at -402.90. Asensus Surgical Inc.’s Net Margin is presently recorded at -1868.09.

Return on Total Capital for ASXC is now -91.50, given the latest momentum, and Return on Invested Capital for the company is -98.26. Return on Equity for this stock declined to -101.30, with Return on Assets sitting at -72.71. When it comes to the capital structure of this company, Asensus Surgical Inc. [ASXC] has a Total Debt to Total Equity ratio set at 6.71. Additionally, ASXC Total Debt to Total Capital is recorded at 6.28, with Total Debt to Total Assets ending up at 5.00. Long-Term Debt to Equity for the company is recorded at 3.60, with the Long-Term Debt to Total Capital now at 3.37.

Reflecting on the efficiency of the workforce at the company, Asensus Surgical Inc. [ASXC] managed to generate an average of -$429,797 per employee. Receivables Turnover for the company is 0.87 with a Total Asset Turnover recorded at a value of 0.04.Asensus Surgical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.00 and a Current Ratio set at 19.20.

ASXC Stock EPS

With the latest financial reports released by the company, Asensus Surgical Inc. posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASXC.

Asensus Surgical Inc. [ASXC] Insider Position Details

There are presently around $115 million, or 18.80% of ASXC stock, in the hands of institutional investors. The top three institutional holders of ASXC stocks are: INVESCO LTD. with ownership of 7,109,464, which is approximately 6598.195% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 6,132,801 shares of the stock with an approximate value of $20.24 million in ASXC stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $8.91 million in ASXC stock with ownership of nearly 89.233% of the company’s market capitalization.

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Positions in Asensus Surgical Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 77 institutional holders increased their position in Asensus Surgical Inc. [AMEX:ASXC] by around 27,396,495 shares. Additionally, 21 investors decreased positions by around 1,799,836 shares, while 14 investors held positions by with 5,559,734 shares. The mentioned changes placed institutional holdings at 34,756,065 shares, according to the latest SEC report filing. ASXC stock had 47 new institutional investments in for a total of 9,726,597 shares, while 16 institutional investors sold positions of 1,681,891 shares during the same period.

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