VisionWave (NASDAQ:VWAV) Trading 5.7% Higher - Time to Buy?

Key Points

• VisionWave (VWAV) shares jumped 5.7% on Monday, trading as high as $7.34 and last at $7.18 on volume of 532,769 shares, slightly below its average session volume.
• Analyst sentiment remains weak with an average rating of "Sell"; Weiss Ratings reaffirmed a sell while Wall Street Zen recently moved the stock to a hold.
• The company has a market cap of $140.66 million and reported negative quarterly EPS (−$0.46); insider Internacional Argentina Magic sold 12,200 shares and institutional ownership sits at about 51.36% amid recent new and increased positions by several funds.

VisionWave Holdings Inc (NASDAQ:VWAV - Get Free Report)'s stock price shot up 5.7% on Monday . The company traded as high as $7.34 and last traded at $7.18. 532,769 shares were traded during trading, a decline of 6% from the average session volume of 566,758 shares. The stock had previously closed at $6.79.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VWAV. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of VisionWave in a research report on Monday, December 29th. Wall Street Zen raised VisionWave from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

VisionWave Trading Up 5.7%

The firm has a market cap of $140.66 million, a PE ratio of -11.40 and a beta of 0.43. The stock's 50 day simple moving average is $7.36.

VisionWave (NASDAQ:VWAV - Get Free Report) 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 other VisionWave news, major shareholder Internacional Argentina Magic sold 12,200 shares of the company's stock in a transaction 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 completion of the transaction, the insider owned 2,008,300 shares in the company, valued at $19,239,514. This represents a 0.60% decrease in their position. 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 owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Yorkville Advisors Global LP bought a new position in shares of VisionWave during the 3rd quarter worth $1,906,000. Geode Capital Management LLC grew its stake in shares of VisionWave by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 61,792 shares of the company's stock worth $573,000 after acquiring an additional 11,533 shares during the period. State Street Corp grew its stake in shares of VisionWave by 20.9% during 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 period. Cetera Investment Advisers bought a new position in shares of VisionWave during the 4th quarter worth $132,000. Finally, Equitable Holdings Inc. bought a new position in shares of VisionWave during the 4th quarter worth $125,000. 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.

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