Ondas (NASDAQ:ONDS) Stock Falls 4% – Should You Sell?

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report) traded down 4% during trading on Thursday. The company traded as low as $5.89 and last traded at $6.02. 36,710,430 shares changed hands during trading, a decline of 54% from the average session volume of 79,285,898 shares. The stock had previously closed at $6.27.

Analysts Set New Price Targets

A number of equities analysts recently commented on ONDS shares. Weiss Ratings downgraded shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Oppenheimer increased their target price on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Roth Capital reissued a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Citigroup restated a “market outperform” rating on shares of Ondas in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ondas in a research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.89.

Get Our Latest Analysis on ONDS

Ondas Price Performance

The stock’s 50-day moving average is $7.44 and its 200 day moving average is $8.57. The company has a market cap of $3.51 billion, a PE ratio of -86.00 and a beta of 2.92.

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

Insider Buying and Selling at Ondas

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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil Laird sold 4,952 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the sale, the chief financial officer directly owned 42,246 shares of the company’s stock, valued at approximately $326,984.04. This represents a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Ondas

Several hedge funds have recently modified their holdings of ONDS. T3 Companies LLC acquired a new stake in Ondas in the 3rd quarter worth approximately $164,000. SBI Securities Co. Ltd. grew its position in Ondas by 8.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 212,883 shares of the company’s stock worth $1,560,000 after purchasing an additional 15,938 shares during the last quarter. Wealth Management Partners LLC acquired a new position in Ondas during the 3rd quarter valued at approximately $255,000. Sowell Financial Services LLC increased its stake in Ondas by 47.1% during the 3rd quarter. Sowell Financial Services LLC now owns 21,366 shares of the company’s stock valued at $157,000 after purchasing an additional 6,844 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Ondas by 232.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 14,186 shares of the company’s stock valued at $104,000 after purchasing an additional 9,922 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

About Ondas

(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 businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.

Further Reading

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