Ondas (NASDAQ:ONDS) Shares Down 3.2% – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) fell 3.2% during mid-day trading on Tuesday . The stock traded as low as $8.07 and last traded at $8.44. 119,273,848 shares changed hands during mid-day trading, an increase of 273% from the average session volume of 32,016,986 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research lowered Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Oppenheimer raised Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Friday, November 14th. HC Wainwright assumed coverage on Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Finally, Lake Street Capital upped their target price on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Ondas Trading Down 3.2%

The company has a market cap of $3.11 billion, a P/E ratio of -21.10 and a beta of 2.44. The company’s 50-day moving average price is $7.56 and its two-hundred day moving average price is $4.38.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $10.10 million during the quarter, compared to analyst estimates of $7.04 million. Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%. Ondas has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Ondas

A number of hedge funds have recently added to or reduced their stakes in ONDS. RiverGlades Family Offices LLC grew its position in shares of Ondas by 54.0% during the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after buying an additional 5,400 shares during the last quarter. Wexford Capital LP bought a new position in Ondas in the third quarter worth about $67,000. SBI Securities Co. Ltd. boosted its stake in Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after acquiring an additional 9,904 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in shares of Ondas by 61.5% during the third quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after purchasing an additional 10,000 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Ondas during the 3rd quarter worth approximately $77,000. 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.