Ondas (NASDAQ:ONDS) Shares Down 2.6% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report) shares fell 2.6% during trading on Tuesday. The company traded as low as $7.47 and last traded at $7.48. 48,586,505 shares traded hands during trading, a decline of 41% from the average session volume of 81,928,453 shares. The stock had previously closed at $7.68.

Analyst Upgrades and Downgrades

ONDS has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Roth Capital reissued a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. Weiss Ratings cut shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. LADENBURG THALM/SH SH raised their price target on shares of Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, Oppenheimer lifted their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ondas has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.

View Our Latest Analysis on ONDS

Ondas Stock Performance

The firm’s fifty day moving average price is $8.02 and its 200 day moving average price is $8.94. The firm has a market cap of $4.18 billion, a P/E ratio of -102.50 and a beta of 2.74.

Ondas (NASDAQ:ONDS – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The company had revenue of $83.77 million for the quarter, compared to the consensus estimate of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. As a group, analysts expect that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Ondas

In other news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the transaction, the director owned 261,836 shares of the company’s stock, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the transaction, the chief financial officer owned 42,246 shares of the company’s stock, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently bought and sold shares of ONDS. BlueCrest Capital Management Ltd acquired a new position in shares of Ondas during the second quarter worth $330,000. WINTON GROUP Ltd acquired a new stake in shares of Ondas in the 2nd quarter worth $2,294,000. RFG Advisory LLC grew its stake in Ondas by 57.0% during the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock worth $22,967,000 after buying an additional 1,012,353 shares during the last quarter. NewEdge Advisors LLC grew its stake in Ondas by 47.4% during the 2nd quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock worth $358,000 after buying an additional 13,993 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its position in Ondas by 63.0% during the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock valued at $8,380,000 after buying an additional 393,133 shares in the last quarter. 37.73% of the stock is owned by hedge funds and other institutional investors.

Ondas Company Profile

(Get Free Report)

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.

Further Reading

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