Actelis Networks Inc. (NASDAQ:ASNS) surged 55.58% in after-hours trading on Tuesday to $0.29 after announcing a new contract with the California Department of Transportation.
Caltrans Deal Caps a Strong Government Win Streak
On Monday, Actelis announced it secured an order to deploy its MetaLight solution as part of an approximately $120 million Caltrans modernization initiative on a state route in San Mateo County. MetaLight claims to provide fiber-grade Ethernet connectivity over existing copper infrastructure.
The California-based networking solutions company said Actelis’ MetaLight solution will be deployed as part of the traffic signal and monitoring systems component of the initiative, covering a state route in San Mateo County.
According to the company’s press release, the order adds to 2025 wins in Orange and Ventura counties, follow-on orders from Washington, D.C.’s Department of Transportation and deployments across multiple other U.S. municipalities and transportation authorities.
MetaLight Tech Positioned for a $90B Market Opportunity
Tuvia Barlev, CEO of Actelis, said, “Transportation authorities at every level of government are choosing our hybrid fiber-copper approach because it delivers immediate, measurable results at a fraction of the time and cost of traditional fiber deployment.”
The company also cited Polaris Market Research, noting North American smart transportation demand is expected to reach nearly $90 billion in 2026.
Actelis stated MetaLight devices can be installed in minutes, providing secure, fiber-quality connections over existing copper lines to connect traffic management centers to signals, cameras, and monitoring stations without the cost of new fiber trenching.
Trading Metrics, Technical Analysis
The Relative Strength Index (RSI) of ASNS stands at 24.07.
Actelis Networks has a market capitalization of $1.51 million, with a 52-week high of $12.90 and a 52-week low of $0.17.
Over the past 12 months, the stock of the small-cap company has fallen 98.11%.
Price Action: ASNS closed the regular session at $0.19, down 0.21%, according to Benzinga Pro data.
The stock is currently positioned extremely close to its annual low.
The long-term trend and weak position indicate that any possible recovery would require clear confirmation before investors take significant action.
Benzinga’s Edge Stock Rankings indicate that ASNS has a negative price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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