Actelis Networks, Inc. (NASDAQ:ASNS) Short Interest Down 49.4% in February

Actelis Networks, Inc. (NASDAQ:ASNS) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 121,400 shares, a decline of 49.4% from the February 12th total of 239,850 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 515,751 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 515,751 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.4% of the shares of the company are sold short.

Analysts Set New Price Targets

ASNS has been the subject of several recent research reports. Wall Street Zen lowered Actelis Networks to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actelis Networks in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Actelis Networks has a consensus rating of “Sell”.

Actelis Networks Stock Performance

Shares of NASDAQ:ASNS traded down $0.09 during midday trading on Thursday, reaching $0.46. 13,374,305 shares of the company traded hands, compared to its average volume of 34,948,504. The company has a quick ratio of 0.93, a current ratio of 1.70 and a debt-to-equity ratio of 0.05. Actelis Networks has a 12 month low of $0.17 and a 12 month high of $12.90. The firm has a market capitalization of $4.05 million, a price-to-earnings ratio of -0.05 and a beta of 2.23. The firm’s fifty day moving average price is $0.38 and its two-hundred day moving average price is $2.60.

Institutional Investors Weigh In On Actelis Networks

Several hedge funds and other institutional investors have recently modified their holdings of ASNS. Virtu Financial LLC grew its position in Actelis Networks by 267.5% during the third quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock worth $26,000 after buying an additional 50,546 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Actelis Networks in the 3rd quarter valued at about $333,000. HRT Financial LP bought a new stake in shares of Actelis Networks during the 4th quarter valued at about $43,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Actelis Networks during the 4th quarter valued at about $79,000. 12.43% of the stock is currently owned by institutional investors.

Actelis Networks Company Profile

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.