Insider Selling: Ondas Holdings Inc. (NASDAQ:ONDS) Director Sells 8,673 Shares of Stock

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) Director Jaspreet K. Sood sold 8,673 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $1.69, for a total value of $14,657.37. Following the completion of the sale, the director now directly owns 161,657 shares in the company, valued at approximately $273,200.33. This represents a 5.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ondas Price Performance

NASDAQ:ONDS traded down $0.01 on Wednesday, reaching $1.55. The stock had a trading volume of 10,849,128 shares, compared to its average volume of 5,390,151. The company has a quick ratio of 0.65, a current ratio of 0.86 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $278.32 million, a P/E ratio of -2.67 and a beta of 2.13. Ondas Holdings Inc. has a 1-year low of $0.54 and a 1-year high of $3.40. The stock has a fifty day moving average price of $1.06 and a 200-day moving average price of $1.33.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). The firm had revenue of $4.25 million during the quarter, compared to the consensus estimate of $4.94 million. Ondas had a negative net margin of 412.92% and a negative return on equity of 232.07%. Research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Ondas

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in shares of Ondas by 119.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after purchasing an additional 6,200 shares during the last quarter. Two Sigma Investments LP acquired a new position in Ondas during the 4th quarter worth about $31,000. Staley Capital Advisers Inc. acquired a new position in Ondas during the 4th quarter worth about $32,000. Millennium Management LLC grew its holdings in Ondas by 150.0% during the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock worth $73,000 after acquiring an additional 17,021 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Ondas in the 4th quarter valued at about $46,000. Institutional investors own 37.73% of the company's stock.

Analysts Set New Price Targets

Separately, Lake Street Capital initiated coverage on Ondas in a report on Monday, April 14th. They set a "buy" rating and a $2.50 price objective for the company.

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.

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