Actelis Networks (NASDAQ:ASNS) Shares to Reverse Split on Tuesday, November 18th

Actelis Networks, Inc. (NASDAQ:ASNS)’s stock is 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 closing bell on Monday, November 17th.

Actelis Networks Stock Down 8.6%

ASNS traded down $0.04 during midday trading on Friday, reaching $0.39. 1,839,452 shares of the company were exchanged, compared to its average volume of 3,555,181. Actelis Networks has a one year low of $0.33 and a one year high of $1.78. 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 company’s fifty day moving average price is $0.49 and its 200 day moving average price is $0.57. The company has a market cap of $4.92 million, a price-to-earnings ratio of -0.50 and a beta of 1.91.

Actelis Networks (NASDAQ:ASNS) last announced its earnings results on Friday, November 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The company had revenue of $0.64 million for the quarter. Actelis Networks had a negative net margin of 115.31% and a negative return on equity of 264.19%. As a group, analysts expect that Actelis Networks will post -0.53 EPS for the current year.

Analysts Set New Price Targets

ASNS has been the topic of several recent analyst reports. Wall Street Zen cut shares of Actelis Networks to a “strong sell” rating in a research report on Saturday, October 11th. Zacks Research cut Actelis Networks from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $5.00.

Institutional Investors Weigh In On Actelis Networks

An institutional investor recently raised its position in Actelis Networks stock. Virtu Financial LLC grew its position in shares of Actelis Networks, Inc. (NASDAQ:ASNS) by 267.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,441 shares of the company’s stock after purchasing 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 quarter. 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.