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

Actelis Networks (NASDAQ:ASNS) announced its quarterly earnings results on Friday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.64 million during the quarter.

Actelis Networks Stock Performance

Shares of NASDAQ:ASNS traded down $0.04 during midday trading on Friday, hitting $0.39. The company’s stock had a trading volume of 1,839,452 shares, compared to its average volume of 3,827,805. 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 stock’s 50 day simple moving average is $0.49 and its 200 day simple moving average is $0.56. The stock has a market capitalization of $4.92 million, a price-to-earnings ratio of -0.50 and a beta of 1.91. Actelis Networks has a fifty-two week low of $0.33 and a fifty-two week high of $1.78.

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 market closes on Monday, November 17th.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Actelis Networks stock. Virtu Financial LLC lifted its stake in Actelis Networks, Inc. (NASDAQ:ASNS) by 267.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,441 shares of the company’s stock after acquiring an additional 50,546 shares during the period. Virtu Financial LLC owned approximately 0.55% of Actelis Networks worth $26,000 at the end of the most recent reporting period. 12.43% of the stock is currently owned by institutional investors and hedge funds.

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.