Short Interest in Actelis Networks, Inc. (NASDAQ:ASNS) Increases By 854.0%

Actelis Networks, Inc. (NASDAQ:ASNS) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 760,610 shares, an increase of 854.0% from the January 15th total of 79,730 shares. Currently, 9.5% of the company’s stock are short sold. Based on an average daily volume of 2,143,464 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 2,143,464 shares, the days-to-cover ratio is currently 0.4 days. Currently, 9.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently commented on ASNS. Zacks Research downgraded Actelis Networks from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Actelis Networks in a report on Wednesday, January 21st. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Actelis Networks Stock Performance

NASDAQ:ASNS opened at $0.27 on Wednesday. The firm has a 50-day moving average of $0.91 and a two-hundred day moving average of $3.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.70 and a quick ratio of 0.93. The stock has a market cap of $2.15 million, a P/E ratio of -0.03 and a beta of 2.10. Actelis Networks has a 1-year low of $0.26 and a 1-year high of $13.30.

Actelis Networks (NASDAQ:ASNS) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The business had revenue of $0.64 million during the quarter, compared to analyst estimates of $1.50 million. Actelis Networks had a negative return on equity of 323.47% and a negative net margin of 223.94%. On average, research analysts expect that Actelis Networks will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Actelis Networks

An institutional investor recently raised its position in Actelis Networks stock. Virtu Financial LLC boosted its stake in Actelis Networks, Inc. (NASDAQ:ASNS) by 267.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,441 shares of the company’s stock after acquiring an additional 50,546 shares during the period. Virtu Financial LLC owned 0.55% of Actelis Networks worth $26,000 at the end of the most recent reporting period. 12.43% of the stock is currently owned by hedge funds and other institutional investors.

Actelis Networks Company Profile

Actelis Networks is a technology company that specializes in delivering high-performance Ethernet access solutions over existing copper and fiber infrastructure. Headquartered in Santa Clara, California, the company designs and manufactures hardware and management software that extend bandwidth capabilities without the need for full fiber deployment. Its solutions are used to bring reliable, carrier-grade connectivity to locations where installing new fiber lines would be cost-prohibitive or logistically challenging.

The company’s product portfolio centers on its MDX series of Ethernet extenders and switches.