Ondas (NASDAQ:ONDS) Stock Price Down 9.3% – Time to Sell?

Ondas Holdings Inc. (NASDAQ:ONDS) shares traded down 9.3% on Monday . The company traded as low as $6.13 and last traded at $5.8380. 12,485,683 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 24,179,244 shares. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HC Wainwright assumed coverage on Ondas in a research report on Monday, October 6th. They issued a “buy” rating and a $12.00 target price for the company. Needham & Company LLC assumed coverage on Ondas in a research report on Tuesday, August 19th. They issued a “buy” rating and a $5.00 target price for the company. Zacks Research upgraded Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Lake Street Capital upped their target price on Ondas from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Ondas Stock Down 4.8%

The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -11.83 and a beta of 2.46. The stock’s 50 day moving average price is $7.30 and its two-hundred day moving average price is $3.74.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $6.27 million for the quarter, compared to the consensus estimate of $4.97 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. On average, equities analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Several hedge funds have recently modified their holdings of ONDS. Diamond Hill Capital Management Inc. increased its holdings in shares of Ondas by 5.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 645,510 shares of the company’s stock worth $691,000 after buying an additional 31,219 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Ondas during the first quarter worth approximately $62,000. SLT Holdings LLC acquired a new stake in shares of Ondas during the first quarter worth approximately $62,000. XTX Topco Ltd acquired a new stake in shares of Ondas during the first quarter worth approximately $32,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Ondas during the first quarter worth approximately $34,000. 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.