Ondas (NASDAQ:ONDS) Shares Down 3% – Time to Sell?

by · The Markets Daily

Ondas Holdings Inc. (NASDAQ:ONDS – Get Free Report)’s stock price fell 3% during trading on Friday . The stock traded as low as $8.41 and last traded at $8.75. 88,408,992 shares traded hands during mid-day trading, an increase of 155% from the average session volume of 34,723,441 shares. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ONDS. Loop Capital set a $10.00 target price on shares of Ondas in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ondas in a report on Monday, December 1st. Zacks Research downgraded Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Lake Street Capital boosted their price target on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Friday, November 14th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Check Out Our Latest Research Report on ONDS

Ondas Stock Down 3.1%

The stock has a 50 day moving average of $7.88 and a 200 day moving average of $5.02. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -21.85 and a beta of 2.42.

Ondas (NASDAQ:ONDS – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%.The firm had revenue of $10.10 million during the quarter, compared to analyst estimates of $7.04 million. As a group, sell-side analysts anticipate that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Insider Transactions at Ondas

In other Ondas news, Director Ron Stern sold 850,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total transaction of $6,723,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Ondas

Several hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of 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 acquiring an additional 9,904 shares in the last quarter. XTX Topco Ltd bought a new position in Ondas during the first quarter valued at about $32,000. IFP Advisors Inc increased its holdings in Ondas by 231.4% during the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after buying an additional 2,892 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in Ondas during the first quarter worth about $34,000. Finally, Penbrook Management LLC bought a new stake in Ondas in the second quarter worth about $35,000. Institutional investors own 37.73% of the company’s stock.

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.

Further Reading