MYDA Advisors LLC Lowers Position in Ondas Holdings Inc. $ONDS

Key Points

• MYDA Advisors LLC has reduced its stake in Ondas Holdings Inc. by 61.5%, now owning 150,000 shares after selling 240,000.
• The stock of Ondas Holdings Inc. has seen a 2.0% increase recently, with a current market cap of $1.11 billion.
• Analysts have upgraded their views on Ondas, with multiple firms setting a buy rating and a consensus target price of $4.67.

MYDA Advisors LLC lessened its holdings in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) by 61.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,000 shares of the company's stock after selling 240,000 shares during the period. MYDA Advisors LLC owned 0.11% of Ondas worth $160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after buying an additional 6,200 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Ondas in the fourth quarter worth $31,000. XTX Topco Ltd purchased a new stake in shares of Ondas in the first quarter worth $32,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ondas in the first quarter worth $34,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ondas in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Ondas Trading Down 6.8%

NASDAQ ONDS traded down $0.40 on Tuesday, hitting $5.46. The company's stock had a trading volume of 27,806,516 shares, compared to its average volume of 16,642,652. Ondas Holdings Inc. has a 52-week low of $0.57 and a 52-week high of $6.19. The company's 50-day simple moving average is $2.90 and its 200 day simple moving average is $1.68. The firm has a market cap of $1.20 billion, a P/E ratio of -10.53 and a beta of 2.40.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The business had revenue of $6.27 million during the quarter, compared to analysts' expectations of $4.97 million. On average, research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Lake Street Capital raised their price target on Ondas from $2.50 to $5.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, Needham & Company LLC began coverage on Ondas in a research report on Tuesday, August 19th. They set a "buy" rating and a $5.00 price target on the stock. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $4.67.

Ondas 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.