Ondas (NASDAQ:ONDS) Shares Down 4.7% – Time to Sell?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) were down 4.7% during mid-day trading on Thursday. The company traded as low as $6.79 and last traded at $6.85. Approximately 60,179,195 shares were traded during trading, a decline of 26% from the average session volume of 80,786,703 shares. The stock had previously closed at $7.19.

Analysts Set New Price Targets

Several brokerages 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, August 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Weiss Ratings cut shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. LADENBURG THALM/SH SH boosted their price target on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Roth Capital reissued a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ondas presently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

Ondas Price Performance

The stock has a fifty day simple moving average of $7.95 and a 200-day simple moving average of $8.78. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -96.14 and a beta of 2.92.

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

Insider Activity

In related news, CFO Neil J. Laird sold 4,952 shares of Ondas stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the sale, the chief financial officer owned 42,246 shares of the company’s stock, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Cohen sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the sale, the director directly owned 261,836 shares of the company’s stock, valued at $2,346,050.56. This represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.67% of the company’s stock.

Institutional Trading of Ondas

Several large investors have recently made changes to their positions in ONDS. GK Wealth Management LLC purchased a new stake in Ondas during the 3rd quarter valued at about $94,000. Valeo Financial Advisors LLC purchased a new stake in Ondas in the 3rd quarter valued at about $140,000. BlueCrest Capital Management Ltd acquired a new position in shares of Ondas in the 2nd quarter worth approximately $330,000. WINTON GROUP Ltd purchased a new position in shares of Ondas during the second quarter worth $2,294,000. Finally, RFG Advisory LLC boosted its holdings in Ondas by 57.0% during the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after acquiring an additional 1,012,353 shares during the period. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.