Ondas (NASDAQ:ONDS) Trading Down 16.4% – Time to Sell?

by · The Cerbat Gem

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report)’s stock price fell 16.4% during trading on Thursday . The stock traded as low as $6.25 and last traded at $6.27. 114,212,543 shares were traded during trading, an increase of 274% from the average session volume of 30,512,775 shares. The stock had previously closed at $7.50.

Wall Street Analysts Forecast Growth

ONDS has been the subject of a number of research reports. Oppenheimer raised shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Friday, November 14th. Zacks Research cut Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. HC Wainwright assumed coverage on Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC boosted their price objective on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Check Out Our Latest Stock Report on Ondas

Ondas Stock Performance

The company has a 50-day moving average of $7.52 and a 200-day moving average of $4.27. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -16.85 and a beta of 2.43.

Ondas (NASDAQ:ONDS – Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $7.04 million. Ondas has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Ondas

A number of large investors have recently bought and sold shares of the company. RiverGlades Family Offices LLC boosted its holdings in shares of Ondas by 54.0% in the third quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after acquiring an additional 5,400 shares in the last quarter. Wexford Capital LP acquired a new stake in Ondas in the third quarter valued at about $67,000. SBI Securities Co. Ltd. lifted its position in Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after purchasing an additional 9,904 shares during the period. Beaird Harris Wealth Management LLC boosted its holdings in Ondas by 61.5% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after purchasing an additional 10,000 shares in the last quarter. Finally, HBK Sorce Advisory LLC acquired a new position in Ondas during the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

About Ondas

(Get Free Report)

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.

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