Actelis Networks (NASDAQ:ASNS) Stock Price Down 5.4% – Here’s What Happened

Actelis Networks, Inc. (NASDAQ:ASNS)’s share price fell 5.4% during mid-day trading on Friday . The stock traded as low as $0.63 and last traded at $0.63. 190,295 shares traded hands during trading, a decline of 82% from the average session volume of 1,041,992 shares. The stock had previously closed at $0.67.

Actelis Networks Price Performance

The company has a fifty day moving average of $0.70 and a 200-day moving average of $0.96. The firm has a market cap of $5.84 million, a P/E ratio of -1.13 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.56 and a quick ratio of 0.89.

Actelis Networks (NASDAQ:ASNS) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. Actelis Networks had a negative return on equity of 181.28% and a negative net margin of 53.20%. The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.20 million. On average, sell-side analysts anticipate that Actelis Networks, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Actelis Networks

A hedge fund recently raised its stake in Actelis Networks stock. Geode Capital Management LLC raised its holdings in Actelis Networks, Inc. (NASDAQ:ASNS) by 21.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,008 shares of the company’s stock after purchasing an additional 8,544 shares during the quarter. Geode Capital Management LLC owned 0.78% of Actelis Networks worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 12.43% of the company’s stock.

About Actelis Networks

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.