VisionWave (NASDAQ:VWAV) Releases Earnings Results

VisionWave (NASDAQ:VWAV) announced its earnings results on Tuesday. The company reported ($0.46) EPS for the quarter, Zacks reports.

VisionWave Price Performance

VWAV traded up $0.48 during mid-day trading on Tuesday, hitting $8.75. The stock had a trading volume of 367,693 shares, compared to its average volume of 403,961. VisionWave has a 1-year low of $2.06 and a 1-year high of $15.80. The business’s fifty day simple moving average is $10.08. The firm has a market cap of $144.52 million, a price-to-earnings ratio of -51.47 and a beta of 0.18.

Insider Buying and Selling

In other news, major shareholder Internacional Argentina Magic sold 12,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $9.58, for a total transaction of $116,876.00. Following the completion of the transaction, the insider directly owned 2,008,300 shares of the company’s stock, valued at $19,239,514. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of VisionWave

A number of hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC bought a new position in VisionWave during the fourth quarter worth $93,000. Squarepoint Ops LLC bought a new position in VisionWave in the 4th quarter valued at about $105,000. Marshall Wace LLP acquired a new position in VisionWave during the fourth quarter valued at approximately $117,000. Equitable Holdings Inc. bought a new stake in shares of VisionWave during the 4th quarter worth $125,000. Finally, State Street Corp grew its holdings in shares of VisionWave by 20.9% during the 4th quarter. State Street Corp now owns 26,576 shares of the company’s stock valued at $246,000 after purchasing an additional 4,600 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VisionWave in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

VisionWave Company Profile

VisionWave Technologies Inc is a defense development company focused on integrating advanced artificial intelligence and autonomous solutions across air, ground and sea domains. VisionWave Technologies Inc, formerly known as Bannix Acquisition Corp., is based in WILMINGTON, Del.