Ondas Holdings Inc. (NASDAQ:ONDS) Sees Large Drop in Short Interest

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,990,000 shares, a decline of 20.3% from the February 13th total of 3,750,000 shares. Based on an average daily trading volume, of 7,570,000 shares, the short-interest ratio is currently 0.4 days. Currently, 4.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Ondas Stock Performance

ONDS stock traded down $0.03 during midday trading on Tuesday, hitting $0.74. 2,399,346 shares of the company traded hands, compared to its average volume of 2,531,796. The stock has a market capitalization of $67.99 million, a price-to-earnings ratio of -1.03 and a beta of 2.00. 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 twelve month low of $0.54 and a twelve month high of $3.40. The business has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $1.25.

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

Insider Activity at Ondas

In other Ondas news, Director Randy Seidl sold 21,359 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the sale, the director now directly owns 124,513 shares of the company’s stock, valued at approximately $160,621.77. This represents a 14.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.90% of the company’s stock.

Institutional Trading of Ondas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in Ondas during the fourth quarter worth about $46,000. Squarepoint Ops LLC acquired a new stake in Ondas in the fourth quarter worth $48,000. Two Sigma Investments LP bought a new position in shares of Ondas during the fourth quarter worth $31,000. Millennium Management LLC increased 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 in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Ondas during the fourth quarter worth about $3,288,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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.