Ondas (NASDAQ:ONDS) Shares Down 4.3% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS) shares were down 4.3% on Wednesday . The stock traded as low as $7.26 and last traded at $7.29. Approximately 55,594,309 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 83,202,711 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

Several equities analysts recently issued reports on ONDS shares. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research note on Friday, August 14th. Zacks Research raised shares of Ondas from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Oppenheimer raised their price target on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ondas currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.18.

Ondas Trading Down 4.3%

The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -104.14 and a beta of 2.74. The firm has a 50-day moving average price of $8.00 and a 200-day moving average price of $9.26.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share 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 firm had revenue of $83.77 million during the quarter, compared to analyst estimates of $67.97 million. Equities research analysts predict that Ondas Holdings Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 261,836 shares in the company, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Ondas

A number of institutional investors and hedge funds have recently modified their holdings of ONDS. Van ECK Associates Corp bought a new stake in shares of Ondas during the 4th quarter worth $71,202,000. State Street Corp raised its position in shares of Ondas by 130.2% during the fourth quarter. State Street Corp now owns 5,162,151 shares of the company’s stock worth $50,383,000 after purchasing an additional 2,920,071 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Ondas by 1,325.9% during the third quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after purchasing an additional 4,247,859 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Ondas by 22.3% in the 4th quarter. Geode Capital Management LLC now owns 4,255,992 shares of the company’s stock valued at $41,558,000 after purchasing an additional 774,862 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Ondas by 956.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,229,081 shares of the company’s stock valued at $34,848,000 after purchasing an additional 3,828,903 shares during the period. Institutional investors and hedge funds own 37.73% of the company’s stock.

About Ondas

Ondas Holdings, Inc (NASDAQ: ONDS) develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.

The company’s Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.