VisionWave Target of Unusually Large Options Trading (NASDAQ:VWAV)

Key Points

• Unusual options activity: Traders bought 2,330 VisionWave call options, 148% above the average volume of 941 contracts.
• Institutional ownership increased: Several funds, including State Street and Geode Capital, expanded their positions or initiated new stakes; institutions now own 51.36% of the company.
• Shares remain under pressure: VisionWave fell to $2.32, near its 52-week low of $2.28, while Weiss Ratings downgraded the stock and the analyst consensus remains “Sell.”

VisionWave Holdings Inc (NASDAQ:VWAV - Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders bought 2,330 call options on the stock. This is an increase of 148% compared to the average volume of 941 call options.

Institutional Investors Weigh In On VisionWave

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of VisionWave by 20.9% in the fourth quarter. State Street Corp now owns 26,576 shares of the company's stock valued at $246,000 after buying an additional 4,600 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in VisionWave during the fourth quarter worth $93,000. Squarepoint Ops LLC acquired a new stake in VisionWave in the fourth quarter valued at $105,000. Geode Capital Management LLC grew its position in shares of VisionWave by 22.9% in the 4th 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. Finally, Marshall Wace LLP acquired a new position in shares of VisionWave during the 4th quarter worth about $117,000. Institutional investors own 51.36% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded VisionWave from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of "Sell".

VisionWave Price Performance

NASDAQ:VWAV traded down $0.26 on Tuesday, hitting $2.32. 195,552 shares of the company's stock were exchanged, compared to its average volume of 589,910. The firm has a 50-day moving average price of $4.66 and a 200-day moving average price of $6.78. VisionWave has a 52 week low of $2.28 and a 52 week high of $15.80. The company has a market cap of $63.88 million, a P/E ratio of -1.81 and a beta of 0.71.

VisionWave (NASDAQ:VWAV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.66) earnings per share for the quarter.

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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