Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Down 29.1% in May

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 6,160,000 shares, a drop of 29.1% from the May 15th total of 8,690,000 shares. Based on an average daily volume of 11,880,000 shares, the short-interest ratio is presently 0.5 days. Currently, 9.3% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ONDS. Heights Capital Management Inc. raised its position in shares of Ondas by 397.6% in the 4th quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company's stock worth $12,317,000 after acquiring an additional 3,844,401 shares in the last quarter. Cresset Asset Management LLC bought a new position in shares of Ondas in the 4th quarter worth about $3,288,000. Jane Street Group LLC bought a new position in shares of Ondas in the 4th quarter worth about $1,050,000. MYDA Advisors LLC bought a new position in shares of Ondas in the 4th quarter worth about $998,000. Finally, AMH Equity Ltd bought a new stake in Ondas in the 4th quarter valued at about $952,000. 37.73% of the stock is owned by institutional investors.

Ondas Trading Down 7.1%

NASDAQ ONDS opened at $1.69 on Tuesday. 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 company has a market cap of $232.25 million, a price-to-earnings ratio of -2.35 and a beta of 2.13. The business's fifty day moving average is $1.03 and its 200 day moving average is $1.33.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $4.25 million for the quarter, compared to analyst estimates of $4.94 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. As a group, sell-side analysts expect that Ondas will post -0.53 EPS for the current fiscal year.

About Ondas

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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