Ondas (NASDAQ:ONDS) Stock Price Down 4.1% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price fell 4.1% on Wednesday . The stock traded as low as $7.38 and last traded at $7.40. Approximately 53,626,237 shares were traded during trading, a decline of 35% from the average daily volume of 82,072,664 shares. The stock had previously closed at $7.72.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONDS. Oppenheimer raised their price target on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Weiss Ratings cut shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. LADENBURG THALM/SH SH lifted their price target on Ondas from $21.50 to $22.75 and gave the stock 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. Finally, Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Trading Down 4.3%

The firm has a 50-day moving average of $7.97 and a 200 day moving average of $9.04. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -105.57 and a beta of 2.74.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.19) 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 the consensus estimate of $67.97 million. Ondas had a negative return on equity of 14.20% and a net margin of 93.55%. Equities research analysts predict that Ondas Holdings Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares in the company, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONDS. Beaird Harris Wealth Management LLC lifted its position in shares of Ondas by 3.8% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 27,250 shares of the company’s stock valued at $266,000 after acquiring an additional 1,000 shares in the last quarter. State of Wyoming grew its stake in Ondas by 31.5% during the 1st quarter. State of Wyoming now owns 6,809 shares of the company’s stock valued at $62,000 after acquiring an additional 1,631 shares in the last quarter. NFSG Corp grew its stake in Ondas by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after acquiring an additional 2,000 shares in the last quarter. Steadtrust LLC increased its holdings in shares of Ondas by 10.3% in the 2nd quarter. Steadtrust LLC now owns 21,473 shares of the company’s stock valued at $177,000 after purchasing an additional 2,000 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Ondas by 30.0% in the 4th quarter. Global Retirement Partners LLC now owns 13,000 shares of the company’s stock valued at $127,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.