VisionWave (NASDAQ:VWAV) Shares to Reverse Split on Tuesday, September 22nd

VisionWave Holdings Inc (NASDAQ:VWAV) shares are going to reverse split on the morning of Tuesday, September 22nd. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 21st.

VisionWave Trading Down 28.1%

VWAV stock traded down $0.10 during trading on Friday, hitting $0.26. 5,417,693 shares of the stock traded hands, compared to its average volume of 1,045,464. The stock has a market cap of $7.94 million, a price-to-earnings ratio of -0.11 and a beta of 0.70. VisionWave has a one year low of $0.26 and a one year high of $15.80. The company has a 50 day simple moving average of $1.61 and a 200 day simple moving average of $4.34.

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

Wall Street Analysts Forecast Growth

VWAV has been the topic of a number of research analyst reports. Weiss Ratings lowered VisionWave from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 24th. Wall Street Zen downgraded VisionWave from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, VisionWave has an average rating of “Sell”.

Institutional Investors Weigh In On VisionWave

An institutional investor recently bought a new stake in VisionWave stock. Equitable Holdings Inc. purchased a new stake in VisionWave Holdings Inc (NASDAQ:VWAV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,650 shares of the company’s stock, valued at approximately $59,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

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.