Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Up 62.7% in July

Key Points

• Short interest in Ondas Holdings Inc. (NASDAQ:ONDS) surged by 62.7% in July, reaching a total of 8,280,000 shares.
• Analyst ratings have improved, with Wall Street Zen upgrading Ondas from a "sell" to a "hold" rating.
• Ondas stock experienced a 15.0% increase, with a current market cap of approximately $551.25 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 8,280,000 shares, anincreaseof62.7% from the June 30th total of 5,090,000 shares. Based on an average trading volume of 16,210,000 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 16,210,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Ondas

Hedge funds have recently added to or reduced their stakes in the stock. Heights Capital Management Inc. grew its holdings in shares of Ondas by 397.6% during the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company's stock valued at $12,317,000 after buying an additional 3,844,401 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in Ondas during the 4th quarter valued at $3,288,000. Caitong International Asset Management Co. Ltd boosted its stake in Ondas by 83,399,800.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 833,999 shares of the company's stock valued at $1,601,000 after purchasing an additional 833,998 shares during the last quarter. Huntleigh Advisors Inc. purchased a new position in shares of Ondas in the second quarter worth $1,489,000. Finally, Geode Capital Management LLC raised its stake in shares of Ondas by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 726,165 shares of the company's stock worth $1,859,000 after purchasing an additional 103,570 shares during the last quarter. 37.73% of the stock is owned by institutional investors.

Ondas Stock Up 8.5%

NASDAQ ONDS traded up $0.26 during trading hours on Wednesday, reaching $3.33. 35,777,436 shares of the company's stock traded hands, compared to its average volume of 24,239,396. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.65. The firm has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $1.37. The firm has a market cap of $597.93 million, a PE ratio of -5.74 and a beta of 2.29.

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

Analyst Upgrades and Downgrades

ONDS has been the subject of several research reports. Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Lake Street Capital assumed coverage on Ondas in a report on Monday, April 14th. They issued a "buy" rating and a $2.50 price objective for the company.

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.