Litchfield Hills Research Reiterates Buy Rating for Actelis Networks (NASDAQ:ASNS)

Actelis Networks (NASDAQ:ASNS)‘s stock had its “buy” rating restated by analysts at Litchfield Hills Research in a research note issued on Monday,Benzinga reports. They currently have a $3.00 price target on the stock.

Several other research firms have also recently issued reports on ASNS. Wall Street Zen cut shares of Actelis Networks to a “strong sell” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Actelis Networks in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $3.00.

Actelis Networks Stock Up 4.0%

Shares of ASNS stock traded up $0.01 during mid-day trading on Monday, hitting $0.37. The company’s stock had a trading volume of 1,345,204 shares, compared to its average volume of 30,505,248. The stock has a market cap of $3.28 million, a price-to-earnings ratio of -0.04 and a beta of 2.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 2.46. Actelis Networks has a 52-week low of $0.17 and a 52-week high of $8.60. The business has a 50-day moving average price of $0.35 and a 200 day moving average price of $2.26.

Institutional Trading of Actelis Networks

Several large investors have recently added to or reduced their stakes in ASNS. 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 purchased a new position in Actelis Networks during the 4th quarter worth approximately $43,000. Boothbay Fund Management LLC purchased a new position in Actelis Networks during the 4th quarter worth approximately $79,000. Finally, Armistice Capital LLC acquired a new stake in Actelis Networks during the 3rd quarter valued at approximately $333,000. Hedge funds and other institutional investors own 12.43% of the company’s stock.

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.