VisionWave (NASDAQ:VWAV) Trading Up 0.5% – Still a Buy?

VisionWave Holdings Inc (NASDAQ:VWAV) shot up 0.5% on Tuesday . The stock traded as high as $5.99 and last traded at $5.77. 469,620 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 710,603 shares. The stock had previously closed at $5.74.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded VisionWave from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

VisionWave Trading Up 0.5%

The stock has a market capitalization of $137.61 million, a P/E ratio of -9.16 and a beta of 0.67. The stock has a 50 day moving average of $6.70.

VisionWave (NASDAQ:VWAV) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.46) earnings per share (EPS) for the quarter.

Insider Transactions at VisionWave

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in VisionWave in the fourth quarter worth approximately $132,000. Equitable Holdings Inc. bought a new position in VisionWave in the fourth quarter worth approximately $125,000. Squarepoint Ops LLC bought a new position in VisionWave in the fourth quarter worth approximately $105,000. Marshall Wace LLP bought a new position in VisionWave in the fourth quarter worth approximately $117,000. Finally, State Street Corp grew its stake in VisionWave by 20.9% in the fourth quarter. State Street Corp now owns 26,576 shares of the company’s stock worth $246,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors 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.