Asensus Surgical Inc (AMEX: ASXC) Stock: More Upside Ahead?

In the last trading session, 1.05 million Asensus Surgical Inc (AMEX:ASXC) shares changed hands as the company’s beta touched 1.47. With the company’s per share price at $0.30 changed hands at $0.0 or 1.80% during last session, the market valuation stood at $79.40M. ASXC’s last price was a discount, traded about -293.33% off its 52-week high of $1.18. The share price had its 52-week low at $0.20, which suggests the last value was 33.33% up since then. When we look at Asensus Surgical Inc’s average trading volume, we note the 10-day average is 1.05 million shares, with the 3-month average coming to 0.73.

Asensus Surgical Inc (AMEX:ASXC) trade information

Instantly ASXC was in green as seen at the end of in last trading. With action 15.54%, the performance over the past five days has been green. The jump to weekly highs of 0.3143 added 1.80% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.80%, with the 5-day performance at 15.54% in the green. However, in the 30-day time frame, Asensus Surgical Inc (AMEX:ASXC) is -10.19% down. Looking at the short shares, we see there were 17.51 million shares sold at short interest cover period of 14.93 days.

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Asensus Surgical Inc (ASXC) estimates and forecasts

Data shows that the Asensus Surgical Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.67% over the past 6 months, a -10.34% in annual growth rate that is considerably lower than the industry average of 10.10%. Year-over-year growth is forecast to reach 18.50% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $5.3 million. 1 analysts are of the opinion that Asensus Surgical Inc’s revenue for the quarter ending Mar 2024 will be $1.5 million. The company’s revenue for the corresponding quarters a year ago was $2.46 million and $976k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 115.10%. The estimates for the next quarter sales put growth at 53.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 52.05%. The 2024 estimates are for Asensus Surgical Inc earnings to decrease by -8.62%.

ASXC Dividends

Asensus Surgical Inc is expected to release its next quarterly earnings report between February 29 and March 04.

Asensus Surgical Inc (AMEX:ASXC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.98% of Asensus Surgical Inc shares while 10.02% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.23%. There are 10.02% institutions holding the Asensus Surgical Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 4.32% of the shares, roughly 11.39 million ASXC shares worth $5.75 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.40% or 3.7 million shares worth $1.87 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 7.73 million shares estimated at $3.91 million under it, the former controlled 2.93% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.21% of the shares, roughly 3.21 million shares worth around $1.62 million.

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