VisionWave (NASDAQ:VWAV) Shares Down 4.5% – Time to Sell?

VisionWave Holdings Inc (NASDAQ:VWAV) shares were down 4.5% during mid-day trading on Wednesday . The company traded as low as $5.03 and last traded at $5.08. Approximately 557,695 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 490,022 shares. The stock had previously closed at $5.32.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VWAV shares. Weiss Ratings restated a “sell (e+)” rating on shares of VisionWave in a research note on Monday, May 18th. Wall Street Zen raised VisionWave from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, VisionWave presently has an average rating of “Sell”.

VisionWave Price Performance

The stock has a market capitalization of $160.46 million, a PE ratio of -4.90 and a beta of 0.67. The company has a 50 day moving average price of $6.03 and a 200-day moving average price of $8.33.

VisionWave (NASDAQ:VWAV) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.66) earnings per share for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Yorkville Advisors Global LP purchased a new stake in VisionWave in the third quarter worth about $1,906,000. Cetera Investment Advisers purchased a new position in VisionWave during the 4th quarter valued at approximately $132,000. Equitable Holdings Inc. purchased a new position in VisionWave during the 4th quarter valued at approximately $125,000. Marshall Wace LLP purchased a new position in VisionWave during the 4th quarter valued at approximately $117,000. Finally, Geode Capital Management LLC lifted its stake in shares of VisionWave by 22.9% in the 4th 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 last quarter. Institutional investors own 51.36% of the company’s stock.

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.