Ondas (NASDAQ:ONDS) Trading Down 12.1% – Should You Sell?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price dropped 12.1% during mid-day trading on Monday . The stock traded as low as $7.56 and last traded at $7.69. Approximately 99,637,313 shares traded hands during trading, an increase of 185% from the average daily volume of 35,009,352 shares. The stock had previously closed at $8.75.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research downgraded Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Loop Capital set a $10.00 target price on shares of Ondas in a report on Wednesday, November 26th. Lake Street Capital raised their target price on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ondas in a research report on Monday, December 1st. Finally, HC Wainwright began coverage on shares of Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price objective on the stock. Five 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ondas Trading Down 12.1%

The firm has a market cap of $2.83 billion, a P/E ratio of -19.23 and a beta of 2.42. The stock has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $5.13.

Ondas (NASDAQ:ONDS) last posted its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The business had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $7.04 million. As a group, equities analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Ondas

In related news, Director Ron Stern sold 850,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total transaction of $6,723,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC purchased a new stake in Ondas in the 2nd quarter valued at about $14,479,000. Vanguard Group Inc. raised its stake in shares of Ondas by 109.9% during the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock valued at $103,567,000 after acquiring an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Ondas in the second quarter valued at approximately $11,123,000. Two Sigma Investments LP grew its stake in Ondas by 1,325.9% in the third quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock worth $35,267,000 after purchasing an additional 4,247,859 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock worth $8,962,000 after purchasing an additional 3,383,629 shares during the period. Hedge funds and other institutional investors 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.