Phoenix Financial Ltd. Makes New $15.26 Million Investment in Odysight.ai Inc. (NASDAQ:ODYS)

Key Points

• Phoenix Financial Ltd. has made a significant investment of approximately $15.26 million in Odysight.ai Inc., acquiring 2,157,689 shares during the 1st quarter, which amounts to about 13.23% ownership in the company.
• Following a recent insider sale, major shareholder Y.D. More Investments Ltd now holds 715,140 shares, reflecting a 1.19% decrease in their position after selling 8,600 shares at an average price of $5.29.
• Wall Street analysts from Benchmark have assigned a "buy" rating for Odysight.ai, with a target price set at $10.00, despite the company's recent earnings report showing a negative EPS of ($0.29).

Phoenix Financial Ltd. bought a new stake in shares of Odysight.ai Inc. (NASDAQ:ODYS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,157,689 shares of the company's stock, valued at approximately $15,263,000. Phoenix Financial Ltd. owned about 13.23% of Odysight.ai at the end of the most recent quarter.

Separately, Hohimer Wealth Management LLC purchased a new position in shares of Odysight.ai during the 1st quarter valued at approximately $168,000. Institutional investors own 19.67% of the company's stock.

Insider Activity

In related news, major shareholder Y.D. More Investments Ltd sold 8,600 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $5.29, for a total transaction of $45,494.00. Following the sale, the insider directly owned 715,140 shares of the company's stock, valued at approximately $3,783,090.60. This represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Odysight.ai Stock Performance

Odysight.ai stock opened at $4.55 on Friday. The stock has a market cap of $74.26 million, a PE ratio of -4.46 and a beta of 0.38. The firm's 50 day simple moving average is $5.05. Odysight.ai Inc. has a 52 week low of $4.00 and a 52 week high of $10.80.

Odysight.ai (NASDAQ:ODYS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.29) EPS for the quarter. The business had revenue of $2.07 million for the quarter. Odysight.ai had a negative net margin of 220.30% and a negative return on equity of 58.27%.

Wall Street Analysts Forecast Growth

Separately, Benchmark started coverage on Odysight.ai in a research note on Wednesday, April 2nd. They set a "buy" rating and a $10.00 target price for the company.

Odysight.ai Profile

Odysight.ai, Inc engages in the development and manufacture of customized visual solutions for organizations across a variety of industries in the form of micro cameras and supplementary technologies. Its devices can used across the medical, aerospace, industrial, research, and defense industries. The company was founded on March 22, 2013 and is headquartered in Omer, Israel.

Want to see what other hedge funds are holding ODYS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Odysight.ai Inc. (NASDAQ:ODYS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.