Actelis Networks (NASDAQ:ASNS) Shares Set to Reverse Split on Tuesday, November 18th

Shares of Actelis Networks, Inc. (NASDAQ:ASNS) are set to reverse split before the market opens on Tuesday, November 18th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, November 17th.

Actelis Networks Price Performance

Actelis Networks stock traded down $0.04 during mid-day trading on Friday, hitting $0.39. 1,839,452 shares of the company traded hands, compared to its average volume of 3,555,181. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 1.14. Actelis Networks has a one year low of $0.33 and a one year high of $1.78. The stock has a market cap of $4.92 million, a price-to-earnings ratio of -0.50 and a beta of 1.91. The stock has a fifty day moving average price of $0.49 and a 200-day moving average price of $0.57.

Actelis Networks (NASDAQ:ASNS) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). The company had revenue of $0.64 million for the quarter. Actelis Networks had a negative return on equity of 264.19% and a negative net margin of 115.31%. On average, equities analysts predict that Actelis Networks will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ASNS shares. Zacks Research cut Actelis Networks from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Actelis Networks in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Actelis Networks to a “strong sell” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Actelis Networks currently has an average rating of “Reduce” and an average price target of $5.00.

Hedge Funds Weigh In On Actelis Networks

A hedge fund recently raised its stake in Actelis Networks stock. Virtu Financial LLC grew its position in shares of Actelis Networks, Inc. (NASDAQ:ASNS) by 267.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,441 shares of the company’s stock after acquiring an additional 50,546 shares during the period. Virtu Financial LLC owned about 0.55% of Actelis Networks worth $26,000 as of its most recent SEC filing. 12.43% of the stock is currently owned by hedge funds and other institutional investors.

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.