Ondas (NASDAQ:ONDS) Stock Price Down 2.8% – What’s Next?

by · The Markets Daily

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report)’s stock price dropped 2.8% on Thursday . The company traded as low as $1.33 and last traded at $1.39. Approximately 2,368,937 shares traded hands during trading, a decline of 62% from the average daily volume of 6,158,364 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

Separately, Northland Securities upped their price objective on shares of Ondas from $1.50 to $4.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th.

Check Out Our Latest Analysis on Ondas

Ondas Price Performance

The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $2.01 and its two-hundred day simple moving average is $1.23. The company has a market capitalization of $114.10 million, a price-to-earnings ratio of -1.74 and a beta of 1.89.

Insider Activity

In other news, Director Randy Seidl sold 21,359 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the sale, the director now directly owns 124,513 shares in the company, valued at $160,621.77. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On Ondas

Hedge funds have recently modified their holdings of the business. Penbrook Management LLC acquired a new stake in shares of Ondas in the fourth quarter valued at about $28,000. Wells Fargo & Company MN raised its position in shares of Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after buying an additional 6,200 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Ondas in the fourth quarter valued at about $31,000. Staley Capital Advisers Inc. acquired a new stake in shares of Ondas in the fourth quarter valued at about $32,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Ondas in the fourth quarter valued at about $48,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Ondas Company Profile

(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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