Ondas (NASDAQ:ONDS) CFO Sells $38,328.48 in Stock

Ondas Holdings Inc. (NASDAQ:ONDS) CFO Neil Laird sold 4,952 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total transaction of $38,328.48. Following the completion of the transaction, the chief financial officer owned 42,246 shares in the company, valued at $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ondas Stock Performance

Shares of ONDS traded up $0.20 during mid-day trading on Thursday, hitting $7.60. The company’s stock had a trading volume of 114,388,226 shares, compared to its average volume of 58,863,060. The stock’s 50-day moving average is $8.00 and its two-hundred day moving average is $9.01. The firm has a market capitalization of $4.34 billion, a PE ratio of -108.57 and a beta of 2.74. Ondas Holdings Inc. has a one year low of $4.95 and a one year high of $15.28.

Ondas (NASDAQ:ONDS) last released its earnings results on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The company had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. Analysts expect that Ondas Holdings Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Ondas

A number of large investors have recently modified their holdings of ONDS. NFSG Corp boosted its stake in Ondas by 200.0% in the first 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 last quarter. Western Wealth Management LLC acquired a new position in shares of Ondas during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Ondas by 5,373.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after purchasing an additional 3,063 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Ondas in the 1st quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Ondas by 813.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,941 shares of the company’s stock valued at $44,000 after buying an additional 4,400 shares during the last quarter. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Ondas

Here are the key news stories impacting Ondas this week:

• Positive Sentiment: Ondas agreed to acquire three defense technology businesses, adding AI-enabled acoustic sensing, resilient communications, remote operations and GPS-independent navigation. The acquisitions are intended to strengthen Ondas’ existing platforms and create additional integrated product and revenue opportunities. Ondas Acquires Three Defense Technology Businesses
• Positive Sentiment: Caribou Labs brings passive acoustic intelligence designed to detect, classify and track drones, including difficult-to-detect small FPV and fiber-optic-controlled systems. Ondas also acquired the defense business of Ottopia Technologies, adding capabilities relevant to remote and autonomous vehicle operations. Ondas Acquired Caribou Labs
• Positive Sentiment: Investors appear to view the acquisitions as a potentially significant expansion of Ondas’ position in autonomous warfare and counter-drone systems, with near-term, field-deployed technologies complementing its current offerings. ONDS’ $56M Defense Bet
• Neutral Sentiment: Reports discussed elevated short interest in ONDS, which can increase volatility and create the possibility of short-covering if positive acquisition developments continue. However, a separate September 24 report listed short interest at zero shares and a zero-day short-interest ratio, creating uncertainty around the reliability or timing of the data. High Short Interest Stocks
• Negative Sentiment: The $56 million acquisition program increases integration and execution demands. Investors will need evidence that the acquired technologies can be combined effectively and converted into sustainable revenue without worsening Ondas’ existing losses or cash needs.

Analyst Ratings Changes

ONDS has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Roth Capital restated a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Finally, LADENBURG THALM/SH SH raised their price objective on shares of Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a report on Monday, August 17th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ondas has an average rating of “Moderate Buy” and an average target price of $17.18.

About Ondas

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.