Ondas (NASDAQ:ONDS) Reaches New 12-Month Low – Here’s What Happened

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) reached a new 52-week low on Thursday. The company traded as low as $4.84 and last traded at $4.7370, with a volume of 8,715,011 shares trading hands. The stock had previously closed at $5.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Ondas to a “buy” rating in a research note on Monday. Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Citizens Jmp started coverage on shares of Ondas in a report on Monday, October 5th. They issued an “outperform” rating and a $14.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Ondas in a research note on Monday, September 14th. Finally, Oppenheimer increased their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Eleven 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

Ondas Price Performance

The firm has a market cap of $2.67 billion, a P/E ratio of -65.36 and a beta of 3.10. The stock’s 50-day simple moving average is $7.01 and its two-hundred day simple moving average is $8.95.

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

Insiders Place Their Bets

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

Institutional Trading of Ondas

A number of hedge funds have recently added to or reduced their stakes in the business. NFSG Corp increased its position 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 purchasing an additional 2,000 shares during the period. Western Wealth Management LLC bought a new stake in shares of Ondas in the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Ondas by 5,373.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock valued at $28,000 after purchasing an additional 3,063 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Ondas by 7,185.7% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 3,521 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Ondas in the 3rd quarter worth approximately $26,000. 37.73% of the stock is 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 businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.