Ondas (NASDAQ:ONDS) Stock Falls 4.7% – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) shares fell 4.7% on Thursday. The stock traded as low as $6.79 and last traded at $6.85. Approximately 60,179,195 shares traded hands during trading, a decline of 26% from the average daily volume of 80,786,703 shares. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citizens Jmp assumed coverage on Ondas in a research note on Monday. They set an “outperform” rating and a $14.00 target price for the company. Weiss Ratings cut Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. LADENBURG THALM/SH SH boosted their price objective on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research report on Monday, August 17th. Citigroup started coverage on shares of Ondas in a report on Monday. They issued a “market outperform” rating on the stock. Finally, Roth Capital reiterated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Ten 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.89.

Ondas Stock Performance

The company has a market capitalization of $3.99 billion, a PE ratio of -97.86 and a beta of 2.92. The company’s 50-day simple moving average is $7.98 and its 200-day simple moving average is $8.82.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a negative return on equity of 14.20% and a net margin of 93.55%.The company had revenue of $83.77 million for the quarter, compared to analysts’ expectations of $67.97 million. Analysts expect that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Transactions at Ondas

In other news, Director Richard Cohen sold 7,500 shares of Ondas 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil Laird sold 4,952 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the sale, the chief financial officer directly owned 42,246 shares in the company, valued at approximately $326,984.04. This represents a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its position in Ondas by 9,274.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock valued at $33,832,000 after acquiring an additional 3,429,398 shares in the last quarter. RFG Advisory LLC bought a new stake in Ondas in the 1st quarter worth approximately $16,045,000. Bank of New York Mellon Corp bought a new position in shares of Ondas during the 2nd quarter valued at $13,158,000. Bank of America Corp DE lifted its holdings in shares of Ondas by 1,443.9% during the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock valued at $12,700,000 after buying an additional 1,313,823 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Ondas in the 1st quarter worth $5,000,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.