Ondas (NASDAQ:ONDS) Stock Price Down 1.8% – Should You Sell?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price fell 1.8% on Friday. The stock traded as low as $6.64 and last traded at $6.73. Approximately 36,769,011 shares were traded during trading, a decline of 54% from the average daily volume of 80,563,148 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Ondas in a report on Monday, September 14th. LADENBURG THALM/SH SH upped their price objective on shares of Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Citigroup initiated coverage on shares of Ondas in a research note on Monday. They issued a “market outperform” rating for the company. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.89.

Ondas Stock Performance

The stock has a market cap of $3.92 billion, a P/E ratio of -96.14 and a beta of 2.92. The business has a 50 day simple moving average of $7.97 and a 200-day simple moving average of $8.79.

Ondas (NASDAQ:ONDS) last released its 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 business 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%. On average, sell-side analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other Ondas news, Director Richard Cohen sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the transaction, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total transaction of $38,328.48. Following the transaction, the chief financial officer directly owned 42,246 shares of the company’s stock, valued at $326,984.04. This represents a 10.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Ondas

Institutional investors and hedge funds have recently bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its holdings in Ondas by 3.8% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 27,250 shares of the company’s stock worth $266,000 after buying an additional 1,000 shares during the period. State of Wyoming raised its holdings 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 during the period. NFSG Corp raised its holdings 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 during the period. Steadtrust LLC lifted its position in shares of Ondas by 10.3% during the second quarter. Steadtrust LLC now owns 21,473 shares of the company’s stock worth $177,000 after acquiring an additional 2,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Ondas by 5,373.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after acquiring an additional 3,063 shares in the last quarter. 37.73% of the stock is owned by 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.