Short Interest in Actelis Networks, Inc. (NASDAQ:ASNS) Decreases By 49.4%

Actelis Networks, Inc. (NASDAQ:ASNS) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 121,400 shares, a drop of 49.4% from the February 12th total of 239,850 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 515,751 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 515,751 shares, the short-interest ratio is presently 0.2 days. Currently, 1.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Actelis Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new position in shares of Actelis Networks during the 4th quarter valued at $79,000. HRT Financial LP purchased a new stake in Actelis Networks during the fourth quarter valued at $43,000. Armistice Capital LLC bought a new position in Actelis Networks in the third quarter valued at about $333,000. Finally, Virtu Financial LLC lifted its holdings in Actelis Networks by 267.5% in the third quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock valued at $26,000 after acquiring an additional 50,546 shares during the period. 12.43% of the stock is currently owned by hedge funds and other institutional investors.

Actelis Networks Stock Performance

Shares of ASNS stock traded down $0.05 during trading hours on Friday, reaching $0.40. The company had a trading volume of 7,410,411 shares, compared to its average volume of 28,488,794. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 1.70. The business has a fifty day moving average price of $0.38 and a 200-day moving average price of $2.55. Actelis Networks has a one year low of $0.17 and a one year high of $12.90. The firm has a market cap of $3.54 million, a PE ratio of -0.05 and a beta of 2.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, January 21st. Wall Street Zen cut 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 MarketBeat.com, the stock presently 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.