Ondas (NASDAQ:ONDS) Shares Down 6.3% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price dropped 6.3% during trading on Tuesday . The stock traded as low as $9.04 and last traded at $9.65. Approximately 68,589,308 shares were traded during trading, a decline of 19% from the average daily volume of 84,673,875 shares. The stock had previously closed at $10.30.

Wall Street Analyst Weigh In

ONDS has been the topic of several recent research reports. Wall Street Zen lowered Ondas from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Zacks Research upgraded Ondas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. LADENBURG THALM/SH SH upgraded Ondas to a “strong-buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Ondas from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Ondas in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.25.

Ondas Trading Down 6.3%

The company has a market cap of $4.90 billion, a PE ratio of 241.25 and a beta of 2.60. The stock has a 50 day moving average price of $10.08 and a 200 day moving average price of $10.10.

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

Insider Buying and Selling at Ondas

In other Ondas news, CEO Eric A. Brock sold 2,378,245 shares of Ondas 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 completion of the transaction, the chief executive officer owned 3,583,010 shares in the company, valued at approximately $48,119,824.30. The trade was a 39.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,395,745 shares of company stock worth $32,109,380. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONDS. Goldman Sachs Group Inc. increased its holdings in shares of Ondas by 444.4% in the 1st 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ondas by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company’s stock worth $2,583,000 after purchasing an additional 490,239 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Ondas in the 2nd quarter worth $152,000. Sei Investments Co. bought a new stake in shares of Ondas in the 2nd quarter worth $3,086,000. Finally, HRT Financial LP bought a new stake in shares of Ondas in the 2nd quarter worth $2,244,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Company Profile

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.