Ondas (NASDAQ:ONDS) Stock Falls 9% – Time to Sell?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price dropped 9% on Wednesday. The company traded as low as $5.22 and last traded at $5.27. Approximately 52,353,092 shares changed hands during trading, a decline of 33% from the average session volume of 77,711,914 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

Several research analysts have commented on ONDS shares. Citizens Jmp assumed coverage on shares of Ondas in a report on Monday, October 5th. They set an “outperform” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Ondas in a research report on Monday, September 14th. Roth Capital reissued a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. Wall Street Zen cut Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ondas in a research note on Monday, October 19th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Trading Up 18.1%

The company has a market capitalization of $3.11 billion, a PE ratio of -76.29 and a beta of 3.10. The stock’s 50-day moving average is $6.87 and its two-hundred day moving average is $8.88.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results 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 company had revenue of $83.77 million for the quarter, compared to the consensus estimate of $67.97 million. On average, equities research analysts forecast 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 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 value of $67,200.00. Following the completion of the sale, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil Laird sold 4,952 shares of the company’s 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 owned 42,246 shares in the company, valued at $326,984.04. The trade was a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ondas

Several institutional investors have recently bought and sold shares of the company. NFSG Corp lifted its stake in shares of Ondas by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after purchasing an additional 2,000 shares in the last quarter. Western Wealth Management LLC acquired a new position in Ondas during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ondas by 5,373.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock valued at $28,000 after purchasing an additional 3,063 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in Ondas by 7,185.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Ondas during the 3rd quarter worth $26,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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 businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.