Odysight.ai Inc.'s (NASDAQ:ODYS) Lock-Up Period Will Expire on August 11th

Key Points

• Odysight.ai's (NASDAQ:ODYS) lock-up period will expire on August 11th, allowing major shareholders and insiders to sell their shares following an IPO where 3,307,692 shares were issued.
• Odysight.ai reported a quarterly EPS of ($0.29) with revenues of $2.07 million, reflecting a negative net margin of 220.30%.
• Institutional investors and hedge funds have recently increased their stakes in Odysight.ai, now owning 19.67% of the company's stock.

Odysight.ai's (NASDAQ:ODYS - Get Free Report) lock-up period is set to end on Monday, August 11th. Odysight.ai had issued 3,307,692 shares in its IPO on February 11th. The total size of the offering was $21,499,998 based on an initial share price of $6.50. After the end of Odysight.ai's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Odysight.ai Stock Performance

Odysight.ai stock traded up $0.25 during midday trading on Thursday, reaching $4.55. The stock had a trading volume of 994 shares, compared to its average volume of 19,223. The firm has a fifty day moving average of $4.90. Odysight.ai has a twelve month low of $3.92 and a twelve month high of $10.80. The firm has a market cap of $74.24 million, a price-to-earnings ratio of -4.46 and a beta of 0.36.

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

Insider Activity

In other Odysight.ai news, major shareholder Y.D. More Investments Ltd sold 8,600 shares of Odysight.ai stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $5.29, for a total transaction of $45,494.00. Following the completion of the sale, the insider owned 715,140 shares of the company's stock, valued at $3,783,090.60. This trade represents a 1.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 10,550 shares of company stock worth $55,231.

Institutional Investors Weigh In On Odysight.ai

Institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Odysight.ai during the 1st quarter valued at $82,000. Hohimer Wealth Management LLC bought a new position in shares of Odysight.ai during the 1st quarter valued at $168,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in shares of Odysight.ai during the 1st quarter valued at $1,375,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD bought a new position in shares of Odysight.ai during the 1st quarter valued at $4,383,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Odysight.ai during the 1st quarter valued at $11,870,000. Institutional investors and hedge funds own 19.67% of the company's stock.

About Odysight.ai

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.