Eric Brock Sells 2,378,245 Shares of Ondas (NASDAQ:ONDS) Stock

Ondas Holdings Inc. (NASDAQ:ONDS) CEO Eric Brock sold 2,378,245 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $13.43, for a total value of $31,939,830.35. Following the transaction, the chief executive officer owned 3,583,010 shares in the company, valued at $48,119,824.30. This trade represents a 39.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ondas Stock Performance

ONDS traded up $0.12 on Tuesday, hitting $13.58. 92,442,441 shares of the company were exchanged, compared to its average volume of 82,778,928. The stock has a market capitalization of $6.86 billion, a PE ratio of 339.50 and a beta of 2.60. Ondas Holdings Inc. has a 12 month low of $1.36 and a 12 month high of $15.28. The firm has a fifty day simple moving average of $9.96 and a two-hundred day simple moving average of $9.93.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.33). The firm had revenue of $30.11 million for the quarter, compared to the consensus estimate of $27.49 million. Ondas had a net margin of 247.85% and a negative return on equity of 14.17%. On average, equities analysts expect that Ondas Holdings Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Ondas in a research report on Tuesday, May 19th. Northland Securities lifted their target price on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 26th. Weiss Ratings upgraded shares of Ondas from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Ondas from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, LADENBURG THALM/SH SH upgraded shares of Ondas to a “strong-buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Hedge Funds Weigh In On Ondas

A number of institutional investors and hedge funds have recently modified their holdings of ONDS. NFSG Corp boosted its holdings in Ondas by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after acquiring an additional 2,000 shares during the period. Western Wealth Management LLC purchased a new position in Ondas in the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC increased its stake in Ondas by 5,373.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after buying an additional 3,063 shares during the period. AdvisorNet Financial Inc purchased a new position in Ondas in the 1st quarter worth about $35,000. Finally, Avion Wealth increased its stake in Ondas by 100.0% in the 4th quarter. Avion Wealth now owns 4,000 shares of the company’s stock worth $39,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 37.73% of the company’s stock.

About Ondas

Ondas Holdings, Inc (NASDAQ: ONDS) develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.

The company’s Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.