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

Asensus Surgical Inc. [AMEX: ASXC] loss -1.79% on the last trading session, reaching $0.55 price per share at the time. The company report on August 8, 2022 that Asensus Surgical, Inc. Reports Operating and Financial Results for the Second Quarter 2022.


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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™, today announced its operating and financial results for the second quarter 2022.

Asensus Surgical Inc. represents 235.89 million in outstanding shares, while the company has a total market value of $126.35 million with the latest information. ASXC stock price has been found in the range of $0.55 to $0.79.

If compared to the average trading volume of 2.59M shares, ASXC reached a trading volume of 7882819 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 2.00. 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 0.06, with the Price to Sales ratio for ASXC stock in the period of the last 12 months amounting to 17.55. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 0.45.

Trading performance analysis for ASXC stock

Asensus Surgical Inc. [ASXC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.58. With this latest performance, ASXC shares gained by 23.87% in over the last four-week period, additionally sinking by -29.64% over the last 6 months – not to mention a drop of -77.82% 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 65.18, with the RSI for the last a single of trading hit 68.81, and the three-weeks RSI is set at 61.73 for Asensus Surgical Inc. [ASXC]. The present Moving Average for the last 50 days of trading for this stock 0.4434, while it was recorded at 0.5436 for the last single week of trading, and 0.8017 for the last 200 days.

Asensus Surgical Inc. [ASXC]: A deeper dive into fundamental analysis

Asensus Surgical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.70 and a Current Ratio set at 13.70.

An analysis of insider ownership at Asensus Surgical Inc. [ASXC]

There are presently around $29 million, or 23.20% of ASXC stock, in the hands of institutional investors. The top three institutional holders of ASXC stocks are: BLACKROCK INC. with ownership of 15,433,427, which is approximately -2.283% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 10,140,049 shares of the stock with an approximate value of $5.58 million in ASXC stocks shares; and STATE STREET CORP, currently with $3.86 million in ASXC stock with ownership of nearly -44.695% of the company’s market capitalization.

Positions in Asensus Surgical Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 32 institutional holders increased their position in Asensus Surgical Inc. [AMEX:ASXC] by around 1,260,040 shares. Additionally, 62 investors decreased positions by around 15,568,472 shares, while 36 investors held positions by with 36,518,166 shares. The mentioned changes placed institutional holdings at 53,346,678 shares, according to the latest SEC report filing. ASXC stock had 21 new institutional investments in for a total of 823,298 shares, while 28 institutional investors sold positions of 5,968,053 shares during the same period.

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