Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Up 384.6% in March

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 14,490,000 shares, a growth of 384.6% from the February 28th total of 2,990,000 shares. Based on an average daily volume of 7,740,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 21.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ONDS. B. Riley Wealth Advisors Inc. purchased a new stake in Ondas during the fourth quarter worth approximately $46,000. Squarepoint Ops LLC purchased a new stake in shares of Ondas during the 4th quarter worth approximately $48,000. Two Sigma Investments LP acquired a new position in shares of Ondas in the 4th quarter valued at $31,000. Millennium Management LLC grew its position in shares of Ondas by 150.0% in the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company’s stock valued at $73,000 after buying an additional 17,021 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in Ondas during the 4th quarter worth $3,288,000. 37.73% of the stock is owned by institutional investors and hedge funds.

Ondas Stock Up 9.5 %

Ondas stock traded up $0.10 during trading on Friday, reaching $1.10. The stock had a trading volume of 12,983,435 shares, compared to its average volume of 2,743,337. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40. The stock has a market cap of $115.78 million, a PE ratio of -1.52 and a beta of 2.00. The business has a 50 day moving average price of $1.36 and a 200 day moving average price of $1.24.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. On average, analysts predict that Ondas will post -0.53 EPS for the current year.

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.