Ondas (NASDAQ:ONDS) Trading Down 3.2% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price traded down 3.2% on Tuesday . The stock traded as low as $8.07 and last traded at $8.44. 119,273,848 shares were traded during mid-day trading, an increase of 273% from the average session volume of 32,016,986 shares. The stock had previously closed at $8.72.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC raised their target price on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Zacks Research lowered Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ondas in a research report on Wednesday, October 8th. Finally, HC Wainwright assumed coverage on shares of Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.20.

Ondas Price Performance

The firm’s fifty day simple moving average is $7.56 and its 200 day simple moving average is $4.38. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -21.10 and a beta of 2.44.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $7.04 million. Ondas has set its FY 2025 guidance at EPS. Equities research analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC purchased a new stake in shares of Ondas during the 2nd quarter worth about $14,479,000. Vanguard Group Inc. grew its stake in shares of Ondas by 109.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock valued at $103,567,000 after buying an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Ondas in the second quarter worth approximately $11,123,000. Two Sigma Investments LP raised its position in Ondas by 1,325.9% during the third quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after acquiring an additional 4,247,859 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in Ondas by 263.5% in the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after acquiring an additional 3,383,629 shares during the last quarter. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.