Ondas (NASDAQ:ONDS) Director Sells $6,723,500.00 in Stock

Ondas Holdings Inc. (NASDAQ:ONDS) Director Ron Stern sold 850,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total transaction of $6,723,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ondas Stock Down 2.4%

ONDS stock traded down $0.20 during midday trading on Wednesday, hitting $8.24. 114,649,767 shares of the company traded hands, compared to its average volume of 32,382,467. Ondas Holdings Inc. has a twelve month low of $0.57 and a twelve month high of $11.70. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -20.60 and a beta of 2.43. The business has a 50 day simple moving average of $7.61 and a 200-day simple moving average of $4.43.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings data 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 company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. Ondas has set its FY 2025 guidance at EPS. Equities research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ONDS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ondas in a research report on Tuesday. Needham & Company LLC increased their target price on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Oppenheimer raised shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Friday, November 14th. Lake Street Capital increased their price objective on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Loop Capital set a $10.00 price objective on shares of Ondas in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ondas presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Institutional Investors Weigh In On Ondas

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC bought a new position in shares of Ondas during the 3rd quarter valued at approximately $117,000. CIBC Bancorp USA Inc. purchased a new stake in Ondas during the third quarter valued at about $131,000. Dark Forest Capital Management LP bought a new stake in Ondas in the 3rd quarter worth approximately $564,000. Wexford Capital LP purchased a new position in shares of Ondas in the third quarter worth $67,000. Finally, SIH Partners LLLP bought a new stake in shares of Ondas in the 3rd quarter worth approximately $154,000. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Company Profile

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.