VisionWave (NASDAQ:VWAV) Shares Down 4.1% – Should You Sell?

Shares of VisionWave Holdings Inc (NASDAQ:VWAV) dropped 4.1% on Friday . The company traded as low as $4.20 and last traded at $4.22. 258,824 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,185,365 shares. The stock had previously closed at $4.40.

Analyst Ratings Changes

A number of research firms have recently issued reports on VWAV. Wall Street Zen raised shares of VisionWave from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings upgraded shares of VisionWave from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

VisionWave Price Performance

The stock has a market cap of $116.39 million, a price-to-earnings ratio of -3.27 and a beta of 0.71. The firm has a fifty day moving average of $5.15 and a 200 day moving average of $7.26.

VisionWave (NASDAQ:VWAV) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($0.66) earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Yorkville Advisors Global LP acquired a new stake in VisionWave during the third quarter worth about $1,906,000. Geode Capital Management LLC boosted its holdings in VisionWave by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 61,792 shares of the company’s stock valued at $573,000 after purchasing an additional 11,533 shares during the last quarter. State Street Corp grew its stake in shares of VisionWave by 20.9% in the 4th quarter. State Street Corp now owns 26,576 shares of the company’s stock valued at $246,000 after buying an additional 4,600 shares during the period. Cetera Investment Advisers purchased a new stake in shares of VisionWave in the 4th quarter valued at approximately $132,000. Finally, Equitable Holdings Inc. acquired a new stake in shares of VisionWave during the 4th quarter worth approximately $125,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

About VisionWave

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.