Actelis Networks (NASDAQ:ASNS) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Actelis Networks (NASDAQ:ASNS) announced its quarterly earnings data on Friday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04), FiscalAI reports. Actelis Networks had a negative net margin of 115.31% and a negative return on equity of 264.19%. The company had revenue of $0.64 million for the quarter.

Actelis Networks Stock Performance

ASNS traded down $0.04 during midday trading on Friday, reaching $0.39. The company had a trading volume of 1,839,452 shares, compared to its average volume of 3,827,805. Actelis Networks has a 1 year low of $0.33 and a 1 year high of $1.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 1.14. The business has a 50-day moving average of $0.49 and a two-hundred day moving average of $0.56.

Shares of Actelis Networks are going to reverse split before the market opens on Tuesday, November 18th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, November 17th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Actelis Networks stock. Virtu Financial LLC lifted its holdings in Actelis Networks, Inc. (NASDAQ:ASNS) by 267.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,441 shares of the company’s stock after purchasing an additional 50,546 shares during the quarter. Virtu Financial LLC owned 0.55% of Actelis Networks worth $26,000 at the end of the most recent quarter. 12.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ASNS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, October 8th. Wall Street Zen cut Actelis Networks to a “strong sell” rating in a research note on Saturday, October 11th. Finally, Zacks Research downgraded shares of Actelis Networks from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Actelis Networks presently has a consensus rating of “Reduce” and a consensus price target of $5.00.

Actelis Networks Company Profile

Actelis Networks, Inc engages in the design, development, manufacture, and marketing of cyber hardened, hybrid fiber, networking solutions for Internet of Things and telecommunication companies in North America, Europe, the Middle East, Israel, and the Asia Pacific. It provides rapid-deployment networking solutions for wide-area IoT applications, including federal, state, and local governments; intelligent traffic systems; and military, utility, rail, telecom, and campus applications.