Ondas (NASDAQ:ONDS) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Ondas (NASDAQ:ONDS) issued its earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05), Zacks reports. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%.

Ondas Stock Down 12.8 %

Shares of NASDAQ:ONDS opened at $0.63 on Wednesday. The stock has a 50-day simple moving average of $1.75 and a 200-day simple moving average of $1.25. The stock has a market capitalization of $57.60 million, a P/E ratio of -0.88 and a beta of 2.00. Ondas has a 1 year low of $0.54 and a 1 year high of $3.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43.

Wall Street Analysts Forecast Growth

Separately, Northland Securities upped their price objective on Ondas from $1.50 to $4.00 and gave the stock an “outperform” rating in a report on Monday, December 30th.

Insider Activity at Ondas

In other news, Director Randy Seidl sold 21,359 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total transaction of $27,553.11. Following the transaction, the director now owns 124,513 shares of the company’s stock, valued at approximately $160,621.77. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.90% of the stock is currently owned by insiders.

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.