Stock idea
Asensus Surgical (ASXC) potential positive swing with limited downside risk but high upside potential. ASXC announced today the installation of a Senhance® Surgical System in the General Surgery Department of Evangelical Hospital Goettingen-Weende of Göttingen, Germany. This is one of the agreements to lease and utilize the System, which was announced by the company’s plans on 8, August 2022. We expect positive market reaction on this news. In our view, realization of the agreement implies ongoing expansion of the company’s surgical platform in Europe. Growing market share combined with growth in revenues from leasing of the platform should lead to better financial results of ASXC going forward. Technical Chart, 4h, points at a strong support level around price range of $0.50 - $0.51 per share; Upside potential for the near-term trade looks at the price range of $0.60-$0.62 per share, implying at least 11% upside in the short-term.
tradingview.com/chart/ESwsUc7Y/?symbol=AMEX:ASXC
tradingview.com/chart/ESwsUc7Y/?symbol=AMEX:ASXC
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