Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) Sees Significant Decline in Short Interest

Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 11,290,000 shares, a decrease of 12.4% from the July 15th total of 12,890,000 shares. Based on an average daily trading volume, of 2,430,000 shares, the days-to-cover ratio is currently 4.6 days. Approximately 4.2% of the company’s stock are sold short.

Institutional Trading of Asensus Surgical

An institutional investor recently raised its position in Asensus Surgical stock. Virtu Financial LLC grew its holdings in Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) by 834.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,019 shares of the company’s stock after purchasing an additional 222,368 shares during the period. Virtu Financial LLC owned approximately 0.09% of Asensus Surgical worth $57,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “neutral” rating and issued a $0.35 price objective on shares of Asensus Surgical in a report on Thursday, May 16th.

Asensus Surgical Stock Performance

Asensus Surgical stock traded up $0.01 during trading hours on Friday, hitting $0.30. The stock had a trading volume of 1,060,246 shares, compared to its average volume of 1,900,916. The firm has a market capitalization of $80.64 million, a price-to-earnings ratio of -0.96 and a beta of 1.37. Asensus Surgical has a 1-year low of $0.17 and a 1-year high of $0.40.

Asensus Surgical (NYSEAMERICAN:ASXC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $2.21 million during the quarter, compared to analysts’ expectations of $1.30 million. Asensus Surgical had a negative net margin of 902.25% and a negative return on equity of 184.10%. As a group, sell-side analysts forecast that Asensus Surgical will post -0.24 EPS for the current fiscal year.

About Asensus Surgical

Asensus Surgical, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery (MIS) in the United States, Europe, the Middle East, Africa, and Asia. It digitizes the interface between the surgeon and the patient to perform performance-guided surgery for surgeons to deliver outcomes to patients.