5 Worst Performing Tech Stocks in 2023

In this piece, we will take a look at the five worst performing technology stocks in 2023. If you want to see how some stocks have performed well this year while others have tanked, then head on over to 15 Worst Performing Tech Stocks in 2023.

5. CISO Global Inc. (NASDAQ:CISO)

Year To Date Losses As Of August 6, 2023: 91.45%

CISO Global Inc. (NASDAQ:CISO) is a technology firm that enables corporate and business users to ensure that their systems are compatible with security standards. Despite poor performance on the stock market, the firm has been on an acquisition spree this year, having bought or teamed up with several other companies.

Insider Monkey dug through 943 hedge funds for their first quarter of 2023 shareholdings and found out that three had bought CISO Global Inc. (NASDAQ:CISO)’s shares.

4. Nogin, Inc. (NASDAQ:NOGN)

Year To Date Losses As Of August 6, 2023: 94.64%

Nogin, Inc. (NASDAQ:NOGN) is an American firm that provides apparel brands with marketing and supply chain management services. The firm’s shares have continued to drop this year even as it announced and closed a $22 million public offering. Its current market capitalization is $9.51 million and it has missed Q4 2022 and Q1 2023 analyst EPS estimates.

After digging through 943 hedge funds for their March quarter of 2023 shareholdings, Insider Monkey discovered that 13 had bought a stake in Nogin, Inc. (NASDAQ:NOGN).

3. Ascent Solar Technologies, Inc. (NASDAQ:ASTI)

Year To Date Losses As Of August 6, 2023: 94.99%

Ascent Solar Technologies, Inc. (NASDAQ:ASTI) develops solar power products for a wide variety of industries such as aerospace, satellites, and agriculture. The firm’s first quarter of 2023 results saw it report $124,225 in revenue and a net loss of $6.1 million which was higher annually.

By the end of this year’s first quarter, three of the 943 hedge funds part of Insider Monkey’s database had invested in the firm. Ascent Solar Technologies, Inc. (NASDAQ:ASTI)’s largest hedge fund shareholder in our database is Jim Simons’ Renaissance Technologies with an investment of $65,000.

2. Satixfy Communications Ltd. (NYSE:SATX)

Year To Date Losses As Of August 6, 2023: 95.40%

Satixfy Communications Ltd. (NYSE:SATX) is a satellite communications products provider which sells equipment such as radios, antennas, and terminals. The stock tanked in January 2023, and turmoil is evident from the fact that the firm has changed its CEO twice this year so far.

During March 2023, four out of the 943 hedge funds part of Insider Monkey’s database had bought and owned Satixfy Communications Ltd. (NYSE:SATX)’s shares.

1. AERWINS Technologies Inc. (NASDAQ:AWIN)

Year To Date Losses As Of August 6, 2023: 97.41%

AERWINS Technologies Inc. (NASDAQ:AWIN) is a Japanese technology firm that develops air cruising products and a sky management operating system. Its shares were listed through a SPAC in February, and are down 97.41% year to date from the SPAC’s pre listing share price.

Five of the 843 hedge funds part of Insider Monkey’s Q1 2023 research had held a stake in AERWINS Technologies Inc. (NASDAQ:AWIN).

Disclosure: None. You can also take a look at 14 Best Multibagger Stocks to Buy for 2024 and 10 Most Profitable Small Businesses in 2023.

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