VisionWave Holdings Inc (NASDAQ:VWAV) Sees Large Growth in Short Interest

VisionWave Holdings Inc (NASDAQ:VWAV) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 2,560,563 shares, an increase of 152.1% from the August 15th total of 1,015,888 shares. Based on an average daily trading volume, of 2,042,899 shares, the days-to-cover ratio is currently 1.3 days. Currently, 9.7% of the shares of the stock are sold short.

VisionWave Stock Performance

VWAV stock opened at $0.47 on Friday. The company has a market capitalization of $14.10 million, a PE ratio of -0.20 and a beta of 0.70. VisionWave has a one year low of $0.40 and a one year high of $15.80. The company’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $4.61.

VisionWave (NASDAQ:VWAV) last issued its earnings results on Wednesday, August 19th. The company reported ($1.19) EPS for the quarter. The company had revenue of $0.29 million for the quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on VWAV. Weiss Ratings downgraded shares of VisionWave from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 24th. Wall Street Zen lowered VisionWave from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On VisionWave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of VisionWave during the fourth quarter valued at about $132,000. State Street Corp grew its position in shares of VisionWave by 20.9% in the 4th quarter. State Street Corp now owns 26,576 shares of the company’s stock worth $246,000 after buying an additional 4,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of VisionWave by 22.9% during the fourth quarter. Geode Capital Management LLC now owns 61,792 shares of the company’s stock valued at $573,000 after acquiring an additional 11,533 shares in the last quarter. Equitable Holdings Inc. purchased a new stake in VisionWave in the fourth quarter worth $125,000. Finally, Squarepoint Ops LLC bought a new stake in VisionWave in the fourth quarter valued at $105,000. 51.36% of the stock is currently owned by institutional investors.

VisionWave Company Profile

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.