Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report)’s share price dropped 8.5% during trading on Wednesday. The company traded as low as $6.13 and last traded at $6.14. Approximately 66,103,179 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 80,410,492 shares. The stock had previously closed at $6.71.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on ONDS. Citizens Jmp assumed coverage on shares of Ondas in a research report on Monday, October 5th. They issued an “outperform” rating and a $14.00 target price on the stock. Roth Capital reissued a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Oppenheimer upped their price target on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Ondas in a report on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.89.
Get Our Latest Stock Analysis on Ondas
Ondas Stock Down 8.5%
Ondas (NASDAQ:ONDS – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The business had revenue of $83.77 million during the quarter, compared to analyst estimates of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. On average, research analysts forecast that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.
Insider Buying and Selling
In other Ondas news, Director Richard Cohen sold 7,500 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the completion of the sale, the director directly owned 261,836 shares in the company, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil Laird sold 4,952 shares of Ondas stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at approximately $326,984.04. The trade was a 10.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.67% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ONDS. Caitong International Asset Management Co. Ltd increased its stake in Ondas by 9,274.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock valued at $33,832,000 after purchasing an additional 3,429,398 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Ondas during the 1st quarter valued at $16,045,000. Bank of New York Mellon Corp bought a new position in shares of Ondas during the second quarter worth $13,158,000. Bank of America Corp DE increased its position in Ondas by 1,443.9% in the first quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock worth $12,700,000 after purchasing an additional 1,313,823 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Ondas in the 1st quarter worth approximately $5,000,000. Institutional investors own 37.73% of the company’s stock.
Ondas Company Profile
Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.
Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.
Featured Articles
- Five stocks we like better than Ondas
- Tesla Wants to Make Its Own Chips—What Could Go Wrong?
- IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver?
- PBF Energy’s Stunning Rally Faces a Critical Test
- Citi Stock Falls Despite Earnings Beat: What Investors Need to Know
Receive News & Ratings for Ondas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ondas and related companies with MarketBeat.com's FREE daily email newsletter.
