Ondas (NASDAQ:ONDS) Stock Price Down 2.4% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price fell 2.4% on Wednesday . The stock traded as low as $7.69 and last traded at $8.24. 114,481,981 shares traded hands during trading, an increase of 254% from the average session volume of 32,382,301 shares. The stock had previously closed at $8.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ONDS shares. Loop Capital set a $10.00 price objective on shares of Ondas in a research note on Wednesday. Zacks Research cut Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Needham & Company LLC raised their price objective on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ondas in a report on Tuesday. Finally, Oppenheimer upgraded Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Friday, November 14th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.67.

Ondas Stock Performance

The stock has a market cap of $3.04 billion, a P/E ratio of -20.60 and a beta of 2.43. The company has a 50-day simple moving average of $7.61 and a 200-day simple moving average of $4.43.

Ondas (NASDAQ:ONDS) last announced 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 analyst estimates of $7.04 million. Ondas has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Ondas

Several hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. boosted its position in Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after buying an additional 9,904 shares during the last quarter. XTX Topco Ltd acquired a new stake in Ondas in the first quarter worth about $32,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Ondas during the 1st quarter worth approximately $34,000. Penbrook Management LLC bought a new position in Ondas in the second quarter valued at approximately $35,000. Finally, Exencial Wealth Advisors LLC bought a new position in Ondas in the second quarter valued at approximately $36,000. 37.73% of the stock is owned by institutional investors.

About Ondas

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.