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

Actelis Networks, Inc. (NASDAQ:ASNS) shares traded down 5.4% during 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 Trading Down 5.4%

The firm has a 50 day simple moving average of $0.70 and a 200 day simple moving average of $0.97. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $5.84 million, a PE ratio of -1.13 and a beta of 1.99.

Actelis Networks (NASDAQ:ASNS) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, beating 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 firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.20 million. Equities analysts expect that Actelis Networks, Inc. will post -0.53 earnings per share 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 grew its position in shares of Actelis Networks, Inc. (NASDAQ:ASNS) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,008 shares of the company’s stock after purchasing an additional 8,544 shares during the period. Geode Capital Management LLC owned approximately 0.78% of Actelis Networks worth $66,000 at the end of the most recent reporting period. 12.43% of the stock is 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.