Ondas (NASDAQ:ONDS) Shares Down 2.9% – Time to Sell?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price was down 2.9% on Thursday. The stock traded as low as $7.12 and last traded at $7.12. 40,711,620 shares were traded during trading, a decline of 50% from the average session volume of 81,583,617 shares. The stock had previously closed at $7.33.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Ondas in a research report on Monday, September 14th. Weiss Ratings downgraded shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Roth Capital reissued a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. LADENBURG THALM/SH SH raised their target price on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.18.

Ondas Stock Up 1.7%

The business’s 50-day moving average is $7.99 and its two-hundred day moving average is $8.90. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -103.43 and a beta of 2.92.

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

Insider Activity at Ondas

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

Hedge Funds Weigh In On Ondas

Hedge funds have recently bought and sold shares of the company. BlueCrest Capital Management Ltd purchased a new stake in Ondas during the 2nd quarter worth about $330,000. WINTON GROUP Ltd purchased a new position in shares of Ondas in the 2nd quarter valued at about $2,294,000. RFG Advisory LLC lifted its stake in Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock worth $22,967,000 after acquiring an additional 1,012,353 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Ondas by 47.4% during the second quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock worth $358,000 after purchasing an additional 13,993 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted 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 acquiring an additional 393,133 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

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 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.