Short Interest in Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) Drops By 11.2%

Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 11,470,000 shares, a decrease of 11.2% from the May 31st total of 12,910,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily volume of 2,600,000 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Investors Weigh In On Asensus Surgical

An institutional investor recently raised its position in Asensus Surgical stock. Virtu Financial LLC grew its stake in Asensus Surgical, Inc. (NYSEAMERICAN:ASXC) by 834.4% during 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 quarter. Virtu Financial LLC owned approximately 0.09% of Asensus Surgical worth $57,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Asensus Surgical Stock Performance

Shares of NYSEAMERICAN ASXC opened at $0.33 on Wednesday. Asensus Surgical has a 52-week low of $0.20 and a 52-week high of $0.65. The company has a market capitalization of $90.28 million, a PE ratio of -1.07 and a beta of 1.36.

Asensus Surgical (NYSEAMERICAN:ASXC) last released its earnings results on Tuesday, May 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $1.12 million for the quarter, compared to analyst estimates of $1.10 million. Asensus Surgical had a negative return on equity of 184.10% and a negative net margin of 902.25%. On average, equities research analysts expect that Asensus Surgical will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

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

Asensus Surgical Company Profile

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.