Actelis Networks, Inc. (NASDAQ:ASNS) Short Interest Up 854.0% in January

Actelis Networks, Inc. (NASDAQ:ASNS) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 760,610 shares, an increase of 854.0% from the January 15th total of 79,730 shares. Based on an average daily trading volume, of 2,143,464 shares, the days-to-cover ratio is currently 0.4 days. Currently, 9.5% of the company’s shares are short sold. Currently, 9.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,143,464 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Actelis Networks stock. Armistice Capital LLC acquired a new position in shares of Actelis Networks, Inc. (NASDAQ:ASNS) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 901,603 shares of the company’s stock, valued at approximately $333,000. Armistice Capital LLC owned about 7.18% of Actelis Networks at the end of the most recent quarter. 12.43% of the stock is owned by institutional investors and hedge funds.

Actelis Networks Trading Down 13.5%

Shares of NASDAQ ASNS traded down $0.04 during trading hours on Tuesday, reaching $0.27. The stock had a trading volume of 1,333,579 shares, compared to its average volume of 1,584,830. Actelis Networks has a 52-week low of $0.26 and a 52-week high of $13.30. The company has a current ratio of 1.70, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.15 million, a price-to-earnings ratio of -0.03 and a beta of 2.10. The business’s fifty day moving average price is $0.96 and its two-hundred day moving average price is $3.36.

Actelis Networks (NASDAQ:ASNS) last announced its earnings results on Friday, November 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). Actelis Networks had a negative return on equity of 323.47% and a negative net margin of 223.94%.The firm had revenue of $0.64 million during the quarter, compared to the consensus estimate of $1.50 million. Analysts expect that Actelis Networks will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research lowered Actelis Networks from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

About Actelis Networks

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.