Ondas Holdings Inc. (NASDAQ:ONDS) Sees Significant Increase in Short Interest

Key Points

• Ondas Holdings Inc. (NASDAQ: ONDS) experienced a significant increase in short interest of 55.2% in September, with a total of 15,070,000 shares shorted.
• The company's stock price recently rose to $11.15, a notable increase compared to its 12-month low of $0.57.
• Analysts have set a consensus target price of $7.25 for Ondas, with recommendations varying from "buy" to "sell," indicating mixed market sentiment.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 15,070,000 shares, an increase of 55.2% from the August 31st total of 9,710,000 shares. Based on an average daily volume of 36,790,000 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 36,790,000 shares, the short-interest ratio is presently 0.4 days.

Ondas Stock Performance

Shares of ONDS traded up $0.49 during trading hours on Tuesday, hitting $11.15. 45,737,636 shares of the stock were exchanged, compared to its average volume of 21,401,125. The stock's 50-day moving average price is $5.38 and its two-hundred day moving average price is $2.73. Ondas has a 12-month low of $0.57 and a 12-month high of $11.63. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -21.53 and a beta of 2.46.

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

Institutional Investors Weigh In On Ondas

Large investors have recently made changes to their positions in the stock. GatePass Capital LLC purchased a new position in Ondas during the second quarter worth approximately $192,000. Squarepoint Ops LLC raised its holdings in shares of Ondas by 467.6% during the 2nd quarter. Squarepoint Ops LLC now owns 356,421 shares of the company's stock worth $684,000 after acquiring an additional 293,628 shares during the period. Marex Group plc acquired a new position in shares of Ondas during the 2nd quarter valued at about $2,112,000. Shellback Capital LP purchased a new stake in shares of Ondas in the second quarter valued at about $1,470,000. Finally, Manatuck Hill Partners LLC purchased a new position in Ondas during the second quarter worth about $1,152,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ONDS shares. HC Wainwright began coverage on shares of Ondas in a research report on Monday. They issued a "buy" rating and a $12.00 price objective for the company. 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. Lake Street Capital boosted their price objective on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ondas in a research report on Saturday, September 27th. Finally, Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ondas currently has an average rating of "Moderate Buy" and a consensus target price of $7.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.