Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Update

by · The Markets Daily

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,990,000 shares, a decline of 20.3% from the February 13th total of 3,750,000 shares. Based on an average daily volume of 7,570,000 shares, the short-interest ratio is currently 0.4 days. Currently, 4.5% of the shares of the company are sold short.

Insider Activity

In other Ondas news, Director Randy Seidl sold 21,359 shares of Ondas stock in a transaction that occurred on 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 owns 124,513 shares of the company’s stock, valued at approximately $160,621.77. The trade was a 14.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Penbrook Management LLC purchased a new stake in Ondas in the fourth quarter worth about $28,000. Wells Fargo & Company MN grew its stake in shares of Ondas by 119.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after acquiring an additional 6,200 shares during the period. Two Sigma Investments LP purchased a new stake in Ondas in the 4th quarter worth approximately $31,000. Staley Capital Advisers Inc. bought a new stake in Ondas during the 4th quarter worth approximately $32,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Ondas during the fourth quarter valued at approximately $46,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on ONDS

Ondas Stock Performance

Shares of NASDAQ:ONDS traded up $0.01 during trading on Wednesday, hitting $0.76. The company’s stock had a trading volume of 2,208,698 shares, compared to its average volume of 2,530,573. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. The firm has a market cap of $69.16 million, a price-to-earnings ratio of -1.05 and a beta of 2.00. The company has a 50-day moving average of $1.55 and a 200-day moving average of $1.25. Ondas has a 12 month low of $0.54 and a 12 month high of $3.40.

Ondas (NASDAQ:ONDS – Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $4.13 million during the quarter, compared to the consensus estimate of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. On average, sell-side analysts expect that Ondas will post -0.53 earnings per share for the current year.

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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