Ondas (NASDAQ:ONDS) Stock Falls 2% – What’s Next?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) traded down 2% during mid-day trading on Wednesday. The stock traded as low as $7.32 and last traded at $7.33. Approximately 46,628,541 shares traded hands during trading, a decline of 43% from the average session volume of 81,740,969 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered 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. Wall Street Zen lowered Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Finally, Oppenheimer lifted their target price on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.18.

Ondas Price Performance

The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of -101.71 and a beta of 2.92. The business’s 50-day moving average price is $8.00 and its two-hundred day moving average price is $8.92.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results 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 company had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. Ondas had a negative return on equity of 14.20% and a net margin of 93.55%. As a group, research analysts predict that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Neil Laird sold 4,952 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the transaction, the chief financial officer owned 42,246 shares in the company, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Cohen sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director directly owned 261,836 shares of the company’s stock, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is currently owned by company insiders.

Institutional Trading of Ondas

Institutional investors and hedge funds have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new stake in Ondas during the second quarter worth $330,000. WINTON GROUP Ltd bought a new position in shares of Ondas in the 2nd quarter valued at $2,294,000. RFG Advisory LLC raised its holdings in shares of Ondas by 57.0% during the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock worth $22,967,000 after buying an additional 1,012,353 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Ondas by 47.4% during the 2nd quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock worth $358,000 after buying an additional 13,993 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its position in shares of Ondas by 63.0% during the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock worth $8,380,000 after buying an additional 393,133 shares during the last quarter. Institutional investors own 37.73% of the company’s stock.

About Ondas

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.