Ondas (NASDAQ:ONDS) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Ondas (NASDAQ:ONDS) from a sell rating to a strong sell rating in a report issued on Saturday.

Several other equities research analysts have also recently weighed in on ONDS. Oppenheimer boosted their target price on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday. Roth Capital began coverage on shares of Ondas in a research note on Tuesday, August 11th. They issued a “buy” rating and a $13.00 price target on the stock. LADENBURG THALM/SH SH raised shares of Ondas to a “strong-buy” rating in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research report on Friday. Finally, Weiss Ratings cut shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.18.

Ondas Price Performance

Shares of NASDAQ ONDS opened at $9.00 on Friday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -128.57 and a beta of 2.72. The business has a 50-day moving average of $8.24 and a two-hundred day moving average of $9.49. Ondas has a 1 year low of $3.20 and a 1 year high of $15.28.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a negative return on equity of 14.20% and a net margin of 93.55%.The business had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. As a group, equities research analysts expect that Ondas will post -0.33 earnings per share for the current year.

Insider Activity at Ondas

In other news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.50, for a total value of $71,250.00. Following the transaction, the director directly owned 264,853 shares of the company’s stock, valued at $2,516,103.50. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric A. Brock sold 2,378,245 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $13.43, for a total transaction of $31,939,830.35. Following the sale, the chief executive officer owned 3,583,010 shares of the company’s stock, valued at approximately $48,119,824.30. This represents a 39.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Ondas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Ondas by 444.4% during the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock worth $120,000 after purchasing an additional 91,732 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ondas by 57.4% in the second quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company’s stock valued at $2,583,000 after acquiring an additional 490,239 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Ondas during the second quarter worth about $152,000. Sei Investments Co. acquired a new position in shares of Ondas during the second quarter worth about $3,086,000. Finally, HRT Financial LP purchased a new position in Ondas during the second quarter worth about $2,244,000. 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.