Ondas Holdings Inc. (NASDAQ:ONDS) Director Richard M. Cohen Sells 7,567 Shares

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) Director Richard M. Cohen sold 7,567 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $1.69, for a total transaction of $12,788.23. Following the completion of the transaction, the director now owns 182,855 shares of the company's stock, valued at $309,024.95. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ondas Price Performance

NASDAQ:ONDS traded down $0.01 during trading hours on Wednesday, hitting $1.55. 10,849,128 shares of the company's stock traded hands, compared to its average volume of 5,390,151. Ondas Holdings Inc. has a 52 week low of $0.54 and a 52 week high of $3.40. The business's fifty day simple moving average is $1.06 and its two-hundred day simple moving average is $1.33. 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 firm has a market cap of $278.32 million, a P/E ratio of -2.67 and a beta of 2.13.

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

Institutional Investors Weigh In On Ondas

Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in shares of Ondas by 119.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after buying an additional 6,200 shares in the last quarter. Two Sigma Investments LP bought a new position in Ondas in the fourth quarter valued at $31,000. Staley Capital Advisers Inc. bought a new position in Ondas in the fourth quarter valued at $32,000. XTX Topco Ltd purchased a new stake in Ondas during the first quarter valued at about $32,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Ondas during the first quarter worth about $34,000. 37.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital started coverage on shares of Ondas in a research note on Monday, April 14th. They issued a "buy" rating and a $2.50 target price on the stock.

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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