Fusemachines (NASDAQ:FUSE) Trading Up 0.5% – Here’s What Happened

Shares of Fusemachines Inc. (NASDAQ:FUSE) shot up 0.5% during mid-day trading on Friday . The company traded as high as $1.0299 and last traded at $0.99. Approximately 13,283 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 65,971 shares. The stock had previously closed at $0.9850.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Fusemachines from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Fusemachines Trading Up 0.5%

The stock has a market cap of $28.65 million, a P/E ratio of -33.00 and a beta of 0.87. The firm has a 50-day moving average of $1.26.

Fusemachines (NASDAQ:FUSE) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $1.88 million during the quarter.

Hedge Funds Weigh In On Fusemachines

Several hedge funds have recently added to or reduced their stakes in FUSE. Meteora Capital LLC grew its stake in shares of Fusemachines by 22.0% during the fourth quarter. Meteora Capital LLC now owns 1,088,350 shares of the company’s stock worth $1,796,000 after purchasing an additional 196,420 shares during the period. Calamos Advisors LLC bought a new position in Fusemachines during the fourth quarter worth about $124,000. Geode Capital Management LLC bought a new position in Fusemachines during the fourth quarter worth about $116,000. Saba Capital Management L.P. acquired a new position in shares of Fusemachines during the 4th quarter worth about $112,000. Finally, Alberta Investment Management Corp acquired a new position in shares of Fusemachines during the 4th quarter worth about $78,000. Institutional investors own 46.80% of the company’s stock.

About Fusemachines

Fusemachines (NASDAQ: FUSE) is a technology company that develops and delivers artificial intelligence solutions and talent services for enterprises. The company provides AI engineering, model development, and deployment services to help organizations integrate machine learning and automation into business processes. Fusemachines also offers training and workforce development programs designed to build in-house AI capabilities and supply skilled practitioners to enterprise clients.

Founded by Sameer Maskey, Fusemachines has positioned itself as both a provider of AI technology and an educator aimed at expanding the pool of qualified AI professionals.