Asensus Surgical Inc (NYSEAMERICAN: ASXC) stock soared 26% to $2.56. The big jump came after H.C. Wainwright analysts initiated coverage on the stock with a buy rating. The analysts set a price target of $4 per share. It’s not a great idea to base an opinion on a stock solely because of an analyst’s recommendation. But investors can profit from understanding why an analyst is bullish about a stock.
In this case, H.C. Wainwright is very optimistic about Asensus Surgical’s prospects. The price target reflects a premium of 97% above the Tuesday closing price for the healthcare stock. This positive recommendation for Asensus comes about two weeks after the company provided an encouraging first-quarter update.
ReneSola Ltd (NYSE:SOLO) surged 18.66% to $9.03 on elevated volume. As per the financial statement, the company posted net revenue of $22.8 million, up by 39% compared to $16.4 million in Q4 2020. The total figure of $22.8 million comprised $19.2 million from the project development business, $3.4 million from the independent power producer (IPP) business, primarily from the sale of electricity in China, and $200,000 from the operations and maintenance division. The company said that the revenue from project development was largely driven by the sale of solar projects in Hungary and Utah.
Selecta Biosciences (NASDAQ: SELB) stock went up over 14.50% to $4.09. The company , today announced that Selecta’s Chief Executive Officer, Carsten Brunn, Ph.D., will provide a corporate update and participate in one-on-one investor meetings at the Jefferies Virtual Healthcare Conference to be held June 1-4, 2021.
The presentation on Tuesday, June 1 at 9:30 a.m. ET will be available through the Jefferies conference portal and an archived webcast will also be accessible in the Investors & Media section of the company’s website at www.selectabio.com.
