Actelis Networks Inc. (NASDAQ:ASNS) shares are trending on Thursday.
Pre-Market Announcement Fueled Wednesday’s Rally
Shares of the California-based technology company declined 9.91% to $0.50 in pre-market trading on Thursday, after surging 47.57% during the regular session following a pre-market announcement of a new order from a Japanese governmental entity for its MetaLight networking solutions.
ASNS claims its MetaLight technology can deliver fiber-grade Ethernet connectivity through existing copper infrastructure.
According to Actelis, the order was placed through its established Japanese channel partner and distributor and will deploy dozens of MetaLight units across critical infrastructure environments, including transportation, utilities and public safety systems, with potential expansion into defense-related installations.
Defense-Adjacent Demand Cited
CEO Tuvia Barlev said governments and defense-adjacent organizations in Japan are “increasingly prioritizing secure, rapid-deployment networking for their most critical assets.”
The networking solutions company stated it has previously supplied solutions for highway and rail systems throughout Japan.
The Japan order marks Actelis’ second notable contract in March, following last week’s MetaLight deployment under a $120 million Caltrans initiative.
Trading Metrics, Technical Analysis
Actelis Networks has a market capitalization of $4.94 million, with a 52-week high of $12.90 and a 52-week low of $0.17.
The Relative Strength Index (RSI) of ASNS stands at 60.60.
Over the past 12 months, the small-cap stock has dropped 91.84%.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $0.56.
Currently, ASNS is positioned very close to its annual low.
Benzinga’s Edge Stock Rankings indicate that ASNS is experiencing short-term upward movement along with medium and long-term consolidation.
Photo: santima.studio / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Recent Comments