Actelis Networks (NASDAQ:ASNS) Raised to Hold at Zacks Research

Actelis Networks (NASDAQ:ASNS) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

ASNS has been the subject of several other reports. Wall Street Zen cut shares of 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. Finally, Litchfield Hills Research reissued a “buy” rating and set a $3.00 target price on shares of Actelis Networks in a research note on Monday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.00.

Actelis Networks Stock Down 2.3%

ASNS stock opened at $0.36 on Tuesday. The stock has a market capitalization of $9.59 million, a PE ratio of -0.04 and a beta of 1.40. The company has a fifty day moving average of $0.35 and a 200-day moving average of $2.19. 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 one year low of $0.17 and a one year high of $8.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC boosted its stake in shares of Actelis Networks by 267.5% during the 3rd quarter. Virtu Financial LLC now owns 69,441 shares of the company’s stock worth $26,000 after acquiring an additional 50,546 shares in the last quarter. Armistice Capital LLC purchased a new position in Actelis Networks in the 3rd quarter valued at approximately $333,000. HRT Financial LP purchased a new position in Actelis Networks in the 4th quarter valued at approximately $43,000. Finally, Boothbay Fund Management LLC acquired a new position in Actelis Networks during the fourth quarter worth $79,000. 12.43% of the stock is owned by hedge funds and other institutional investors.

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.