Ondas (NASDAQ:ONDS) Shares Down 4.1% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS) shares fell 4.1% during trading on Monday . The company traded as low as $7.47 and last traded at $7.58. 50,397,199 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 32,464,547 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Friday, November 14th. Lake Street Capital boosted their price target on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ondas in a research report on Monday. HC Wainwright began coverage on Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 target price for the company. Finally, Needham & Company LLC increased their price target on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ondas has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Ondas Stock Up 10.5%

The firm’s 50 day simple moving average is $7.72 and its two-hundred day simple moving average is $4.68.

Ondas (NASDAQ:ONDS) last announced its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $10.10 million for the quarter, compared to analyst estimates of $7.04 million. Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%. Equities analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Ondas

In related news, Director Ron Stern sold 850,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Ondas

Several large investors have recently bought and sold shares of ONDS. IFP Advisors Inc raised its stake in Ondas by 231.4% during the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after acquiring an additional 2,892 shares in the last quarter. RiverGlades Family Offices LLC boosted its stake in shares of Ondas by 54.0% in the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after purchasing an additional 5,400 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Ondas during the 3rd quarter valued at approximately $67,000. SBI Securities Co. Ltd. increased its position in Ondas by 154.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after purchasing an additional 9,904 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its position in Ondas by 61.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock worth $203,000 after purchasing an additional 10,000 shares in the last quarter. 37.73% of the stock is owned by institutional investors and hedge funds.

About Ondas

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.