Short Interest in Actelis Networks, Inc. (NASDAQ:ASNS) Expands By 32.4%

Actelis Networks, Inc. (NASDAQ:ASNS) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 2,746,704 shares, a growth of 32.4% from the March 15th total of 2,074,952 shares. Currently, 10.3% of the company’s shares are sold short. Based on an average daily volume of 11,665,771 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Actelis Networks

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its stake in shares of Actelis Networks by 267.5% in the third quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock worth $26,000 after purchasing an additional 50,546 shares during the last quarter. HRT Financial LP acquired a new stake in Actelis Networks during the fourth quarter worth about $43,000. Boothbay Fund Management LLC purchased a new position in shares of Actelis Networks during the 4th quarter valued at approximately $79,000. Finally, Armistice Capital LLC acquired a new position in shares of Actelis Networks in the third quarter worth about $333,000. Hedge funds and other institutional investors own 12.43% of the company’s stock.

Actelis Networks Price Performance

ASNS opened at $0.13 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.46 and a quick ratio of 1.76. The firm has a market capitalization of $3.48 million, a PE ratio of -0.02 and a beta of 1.42. The business’s 50-day moving average is $0.29 and its two-hundred day moving average is $1.91. Actelis Networks has a 1 year low of $0.03 and a 1 year high of $8.60.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded Actelis Networks to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Actelis Networks in a report on Wednesday, January 21st. Zacks Research raised shares of Actelis Networks to a “hold” rating in a research report on Tuesday, March 31st. Finally, Litchfield Hills Research reaffirmed a “buy” rating and issued a $3.00 price target on shares of Actelis Networks in a research report on Monday, March 30th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

About Actelis Networks

Actelis Networks is a technology company that specializes in delivering high-performance Ethernet access solutions over existing copper and fiber infrastructure. Headquartered in Santa Clara, California, the company designs and manufactures hardware and management software that extend bandwidth capabilities without the need for full fiber deployment. Its solutions are used to bring reliable, carrier-grade connectivity to locations where installing new fiber lines would be cost-prohibitive or logistically challenging.

The company’s product portfolio centers on its MDX series of Ethernet extenders and switches.