Ondas (NASDAQ:ONDS) Stock Price Down 1.8% – Time to Sell?

Ondas Holdings Inc. (NASDAQ:ONDS) shares traded down 1.8% during mid-day trading on Friday. The company traded as low as $6.64 and last traded at $6.73. 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 brokerages have commented on ONDS. LADENBURG THALM/SH SH raised their target price on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research note on Monday, August 17th. Citigroup initiated coverage on shares of Ondas in a report on Monday. They issued a “market outperform” rating on the stock. Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Oppenheimer boosted their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Citizens Jmp assumed coverage on shares of Ondas in a report on Monday. They set an “outperform” rating and a $14.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Stock Down 1.8%

The firm has a market capitalization of $3.92 billion, a PE ratio of -96.14 and a beta of 2.92. The company has a 50-day moving average of $7.97 and a 200 day moving average of $8.79.

Ondas (NASDAQ:ONDS) last released 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). The business had revenue of $83.77 million during the quarter, compared to analysts’ expectations of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. As a group, equities analysts anticipate that Ondas Holdings Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Ondas 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the completion of the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at $326,984.04. The trade was a 10.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONDS. Caitong International Asset Management Co. Ltd raised its stake in shares of Ondas by 9,274.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock worth $33,832,000 after acquiring an additional 3,429,398 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Ondas in the 1st quarter worth approximately $16,045,000. Bank of New York Mellon Corp purchased a new stake in shares of Ondas in the 2nd quarter valued at $13,158,000. Bank of America Corp DE boosted its stake in shares of Ondas by 1,443.9% in 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 purchasing an additional 1,313,823 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Ondas during the 1st quarter valued at $5,000,000. Institutional investors own 37.73% of the company’s stock.

About Ondas

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.