Actelis Networks (NASDAQ:ASNS) Issues Quarterly Earnings Results

Actelis Networks (NASDAQ:ASNS) issued its quarterly earnings results on Wednesday. The company reported $0.12 EPS for the quarter, FiscalAI reports. The company had revenue of $1.37 million during the quarter. Actelis Networks had a negative net margin of 223.94% and a negative return on equity of 323.47%.

Actelis Networks Price Performance

NASDAQ ASNS traded down $0.06 during mid-day trading on Wednesday, hitting $0.27. The stock had a trading volume of 8,119,161 shares, compared to its average volume of 32,818,188. The firm’s 50 day moving average is $0.37 and its 200 day moving average is $2.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.70 and a quick ratio of 0.93. The stock has a market capitalization of $2.38 million, a price-to-earnings ratio of -0.03 and a beta of 2.23. Actelis Networks has a twelve month low of $0.17 and a twelve month high of $11.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ASNS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Actelis Networks to a “strong sell” rating in a research note on Saturday, March 7th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Actelis Networks

A number of large investors have recently modified their holdings of the business. Armistice Capital LLC purchased a new stake in shares of Actelis Networks during the 3rd quarter valued at approximately $333,000. Boothbay Fund Management LLC acquired a new position in shares of Actelis Networks in the 4th quarter valued at $79,000. HRT Financial LP purchased a new position in shares of Actelis Networks during the 4th quarter worth $43,000. Finally, Virtu Financial LLC increased its position in shares of Actelis Networks by 267.5% during the 3rd quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock worth $26,000 after purchasing an additional 50,546 shares during the last quarter. Hedge funds and other institutional investors own 12.43% of the company’s stock.

Actelis Networks Company Profile

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.