Insider Selling: VisionWave (NASDAQ:VWAV) Major Shareholder Sells 12,200 Shares of Stock

VisionWave Holdings Inc (NASDAQ:VWAV) major shareholder Internacional Argentina Magic sold 12,200 shares of VisionWave stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $9.58, for a total transaction of $116,876.00. Following the completion of the sale, the insider directly owned 2,008,300 shares in the company, valued at $19,239,514. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Internacional Argentina Magic also recently made the following trade(s):

• On Wednesday, February 11th, Internacional Argentina Magic sold 2,080 shares of VisionWave stock. The stock was sold at an average price of $9.00, for a total transaction of $18,720.00.

VisionWave Stock Down 3.8%

Shares of NASDAQ VWAV traded down $0.32 during trading on Thursday, hitting $8.04. The company had a trading volume of 209,846 shares, compared to its average volume of 413,359. The firm’s fifty day simple moving average is $10.17. VisionWave Holdings Inc has a fifty-two week low of $2.06 and a fifty-two week high of $15.80. The firm has a market capitalization of $132.82 million, a price-to-earnings ratio of -47.29 and a beta of 0.18.

VisionWave (NASDAQ:VWAV) last issued its quarterly earnings results on Friday, October 3rd. The company reported ($0.15) earnings per share for the quarter.

Hedge Funds Weigh In On VisionWave

Institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new stake in shares of VisionWave during the 4th quarter valued at approximately $93,000. Geode Capital Management LLC raised its position in VisionWave by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 61,792 shares of the company’s stock valued at $573,000 after purchasing an additional 11,533 shares during the period. Finally, Yorkville Advisors Global LP acquired a new position in shares of VisionWave in the 3rd quarter valued at $1,906,000. 51.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of VisionWave in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, VisionWave presently has a consensus rating of “Sell”.

About VisionWave

VisionWave Technologies Inc is a defense development company focused on integrating advanced artificial intelligence and autonomous solutions across air, ground and sea domains. VisionWave Technologies Inc, formerly known as Bannix Acquisition Corp., is based in WILMINGTON, Del.