Ondas (NASDAQ:ONDS) Shares Down 6.4% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS) fell 6.4% on Thursday . The company traded as low as $7.37 and last traded at $7.41. 86,277,209 shares changed hands during trading, an increase of 5% from the average daily volume of 82,079,859 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

A number of analysts have issued reports on ONDS shares. LADENBURG THALM/SH SH raised Ondas to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Ondas from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Ondas in a report on Tuesday, May 19th. Zacks Research upgraded shares of Ondas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, HC Wainwright set a $17.00 target price on shares of Ondas and gave the stock a “buy” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Ondas Stock Performance

The firm’s fifty day moving average price is $9.72 and its 200 day moving average price is $10.13. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 185.25 and a beta of 2.69.

Insider Buying and Selling at Ondas

In other Ondas news, Director Richard M. Cohen sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.50, for a total value of $71,250.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric A. Brock sold 2,378,245 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $13.43, for a total value of $31,939,830.35. Following the transaction, the chief executive officer owned 3,583,010 shares of the company’s stock, valued at approximately $48,119,824.30. This represents a 39.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,395,745 shares of company stock valued at $32,109,380 over the last quarter. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ondas

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Ondas by 3,558,617.2% in the third quarter. JPMorgan Chase & Co. now owns 2,064,056 shares of the company’s stock valued at $15,935,000 after purchasing an additional 2,063,998 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in Ondas during the 3rd quarter worth approximately $7,720,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Ondas during the 4th quarter worth approximately $6,734,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Ondas in the 4th quarter valued at approximately $1,052,000. Finally, Legal & General Group Plc purchased a new position in Ondas in the 4th quarter valued at approximately $14,215,000. 37.73% of the stock is owned by institutional investors and hedge funds.

About Ondas

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.