Asensus Surgical Inc (AMEX:ASXC) shares, rose in value on Friday, April 05, with the stock price down by -2.74% to the previous day’s close as strong demand from buyers drove the stock to $0.26.
Actively observing the price movement in the recent trading, the stock is buoying the session at $0.27. The value of beta (5-year monthly) is 1.47. Referring to stock’s 52-week performance, its high was $0.86, and the low was $0.20. On the whole, ASXC has fluctuated by -11.97% over the past month.
With the market capitalization of Asensus Surgical Inc currently standing at about $71.42 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to -$0.05 for fiscal year -$0.18 and then to about -$0.14 by fiscal year 2025. Data indicates that the EPS growth is expected to be 41.90% in 2025, while the next year’s EPS growth is forecast to be 22.20%.
Analysts have estimated the company’s revenue for the quarter at $1.2 million, with a low estimate of $1.09 million and a high estimate of $1.3 million. According to the average forecast, sales growth in current quarter could jump up 23.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $12.3 million, representing an increase of 43.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ASXC’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ASXC currently trading nearly -1.52% and -5.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.68, while the 7-day volatility ratio is showing 9.06% which for the 30-day chart, stands at 7.64%. Furthermore, Asensus Surgical Inc (ASXC)’s beta value is 1.44, and its average true range (ATR) is 0.02.
A comparison of Asensus Surgical Inc (ASXC) with its peers suggests the former has fared considerably weaker in the market. ASXC showed an intraday change of -2.74% in today’s session so far, and over the past year, it shrunk by -58.98%%.
Data on historical trading for Asensus Surgical Inc (AMEX:ASXC) indicates that the trading volumes over the past 10 days have averaged 4.3 million and over the past 3 months, they’ve averaged 1.59 million. According to company’s latest data on outstanding shares, there are 271.99 million shares outstanding.
Nearly 2.01% of Asensus Surgical Inc’s shares belong to company insiders and institutional investors own 9.87% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.01 million shares as on Mar 15, 2024, resulting in a short ratio of 17.6. According to the data, the short interest in Asensus Surgical Inc (ASXC) stood at 6.25% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.05 million. The stock has fallen by -17.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ASXC stock heading into the next quarter.
