Actelis Networks, Inc. (NASDAQ:ASNS) Sees Large Decline in Short Interest

Actelis Networks, Inc. (NASDAQ:ASNS) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 121,400 shares, a drop of 49.4% from the February 12th total of 239,850 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 515,751 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 515,751 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.4% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

ASNS has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Actelis Networks to a “strong sell” rating in a research report on Saturday, March 7th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Actelis Networks Price Performance

Shares of ASNS stock traded down $0.09 during trading hours on Thursday, hitting $0.46. 13,374,305 shares of the company’s stock were exchanged, compared to its average volume of 34,948,504. The company has a market capitalization of $4.05 million, a PE ratio of -0.05 and a beta of 2.23. The company has a current ratio of 1.70, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. Actelis Networks has a 12-month low of $0.17 and a 12-month high of $12.90. The business’s 50 day simple moving average is $0.38 and its 200-day simple moving average is $2.60.

Institutional Trading of Actelis Networks

Several hedge funds have recently added to or reduced their stakes in ASNS. Virtu Financial LLC boosted its holdings in Actelis Networks by 267.5% in the third quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock valued at $26,000 after acquiring an additional 50,546 shares in the last quarter. HRT Financial LP purchased a new stake in shares of Actelis Networks in the 4th quarter worth about $43,000. Boothbay Fund Management LLC purchased a new stake in shares of Actelis Networks in the 4th quarter worth about $79,000. Finally, Armistice Capital LLC bought a new stake in shares of Actelis Networks during the 3rd quarter valued at about $333,000. 12.43% of the stock is owned by 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.