VisionWave (NASDAQ:VWAV) Stock Price Down 14.7% – Here’s What Happened

VisionWave Holdings Inc (NASDAQ:VWAV)’s share price dropped 14.7% during mid-day trading on Thursday . The company traded as low as $4.89 and last traded at $4.93. 1,304,441 shares traded hands during mid-day trading, an increase of 144% from the average daily volume of 534,112 shares. The stock had previously closed at $5.78.

Analyst Ratings Changes

A number of equities analysts recently commented on VWAV shares. Weiss Ratings cut shares of VisionWave from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of VisionWave from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

VisionWave Stock Performance

The firm has a 50-day moving average of $5.80 and a 200-day moving average of $7.76. The firm has a market capitalization of $125.17 million, a P/E ratio of -3.82 and a beta of 0.66.

VisionWave (NASDAQ:VWAV) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.66) EPS for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Yorkville Advisors Global LP bought a new stake in VisionWave during the 3rd quarter valued at $1,906,000. Equitable Holdings Inc. bought a new stake in VisionWave in the 4th quarter worth $125,000. State Street Corp grew its holdings in VisionWave by 20.9% in the 4th quarter. State Street Corp now owns 26,576 shares of the company’s stock worth $246,000 after acquiring an additional 4,600 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of VisionWave in the fourth quarter valued at about $105,000. Finally, Geode Capital Management LLC increased its position in shares of VisionWave by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 61,792 shares of the company’s stock valued at $573,000 after acquiring an additional 11,533 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

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.