Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Asensus Surgical Inc. shares valued at $10,804 were sold by Starling William N JR on Jun 13. At $0.40 per share, Starling William N JR sold 27,010 shares. The insider’s holdings dropped to 13,846 shares worth approximately $6369.16 following the completion of this transaction.
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Also, Kwo Elizabeth purchased 18,000 shares, netting a total of over 9,558 in proceeds. Following the buying of shares at $0.53 each, the insider now holds 72,201 shares.
Before that, Milne David Bruce had added 225,000 shares to its account. In a trade valued at $139,041, the Director bought Asensus Surgical Inc. shares for $0.62 each. Upon closing the transaction, the insider’s holdings increased to 225,000 shares, worth approximately $0.29 million.
As published in their initiating research note from Cantor Fitzgerald on September 08, 2022, Asensus Surgical Inc. [ASXC] has been an Overweight and the price target has been revised to $1.50. This represents a 69.33% premium over Thursday’s closing price. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in late May.
Analyzing ASXC’s Price Performance
On Thursday, Asensus Surgical Inc. [AMEX: ASXC] plunged -11.02% to $0.46. The stock’s lowest price that day was $0.45, but it reached a high of $0.51 in the same session. During the last five days, there has been a drop of approximately -16.67%. Over the course of the year, Asensus Surgical Inc. shares have dropped approximately -58.96%. Shares of the company reached a 52-week high of $1.2200 on 01/04/22 and a 52-week low of $0.3500 on 05/12/22. A 50-day SMA is recorded $0.5466, while a 200-day SMA reached $0.6366. Nevertheless, trading volume fell to 1.43 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for Asensus Surgical Inc. (ASXC)
According to the 24-hour chart, there is a support level at 0.4337, which, if violated, would cause prices to drop to 0.4118. In the upper region, resistance lies at 0.4937. The next price resistance is at 0.5318. RSI (Relative Strength Index) is 35.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0398, which suggests the price will decrease in the coming days. Percent R is at 96.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Asensus Surgical Inc. subject to short interest?
Stocks of Asensus Surgical Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -9.73 million shares to 9.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.21 million shares. A decline of -102.64% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.67 of the overall float, the days-to-cover ratio (short ratio) decline to 2.67.
Which companies own the most shares of Asensus Surgical Inc. (ASXC)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,770,414 shares, which is about 4.55% of the total ASXC shares outstanding. The investor’s shares have appreciated by 909,202 from its previous 13-F filing of 9861212.0 shares. With the completion of the buy transaction, Millennium Management LLC’s stake is now worth $2,722,053. BlackRock Fund Advisors reduced a -74.20% interest valued at $1.98 million while Geode Capital Management LLC sold a -1,537,226 stake. A total of 985,763 shares of Asensus Surgical Inc. were sold by Ergoteles LLC during the quarter, and 129,349 were bought by Susquehanna Financial Group LLLP. In its current portfolio, SSgA Funds Management, Inc. holds 817,129 shares valued at $0.44 million.
In terms of Asensus Surgical Inc. share price expectations, FactSet research, analysts set an average price target of $2.25 in the next 12 months, up nearly 341.18% from the previous closing price of $0.51. Analysts anticipate Asensus Surgical Inc. stock to reach $3.00 by 2022, with the lowest price target being $1.50. In spite of this, 2 analysts ranked Asensus Surgical Inc. stock as a Buy at the end of 2022.