Ondas (NASDAQ:ONDS) Reaches New 1-Year Low - Here's Why

Key Points

• Ondas hit a new 52-week low, trading as low as $4.84 and last at $4.737, down about 13% from its prior close of $5.27.
• Analyst views are mixed, but the consensus rating is “Moderate Buy” with a $16.89 price target; 11 analysts rate the stock Buy, one Hold, and one Sell.
• In its latest reported quarter, Ondas posted an EPS loss of $0.19, missing the $0.09 loss consensus, while revenue of $83.77 million topped estimates of $67.97 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $4.84 and last traded at $4.7370, with a volume of 8,715,011 shares traded. The stock had previously closed at $5.27.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ONDS. Citigroup reaffirmed a "market outperform" rating on shares of Ondas in a research note on Monday, October 19th. LADENBURG THALM/SH SH boosted their price objective on shares of Ondas from $21.50 to $22.75 and gave the company a "buy" rating in a research report on Monday, August 17th. Weiss Ratings restated a "sell (d+)" rating on shares of Ondas in a report on Monday. Oppenheimer upped their price objective on shares of Ondas from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Ondas in a research report on Tuesday, August 18th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.89.

Ondas Trading Down 13.0%

The business has a fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $8.95. The stock has a market cap of $2.67 billion, a PE ratio of -65.36 and a beta of 3.10.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a negative return on equity of 14.20% and a net margin of 93.55%. The firm had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. On average, research analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.

Insider Transactions at Ondas

In other news, CFO Neil J. Laird sold 4,952 shares of the firm's stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the completion of the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at $326,984.04. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Cohen sold 7,500 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the sale, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. This trade represents a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ondas

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in shares of Ondas during the 2nd quarter worth $13,158,000. Bank of America Corp DE increased its stake in shares of Ondas by 1,443.9% in the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company's stock worth $12,700,000 after purchasing an additional 1,313,823 shares in the last quarter. RFG Advisory LLC increased its stake in shares of Ondas by 57.0% in the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company's stock worth $22,967,000 after purchasing an additional 1,012,353 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Ondas in the 1st quarter worth $5,000,000. Finally, Cetera Investment Advisers raised its holdings in Ondas by 281.3% in the 1st quarter. Cetera Investment Advisers now owns 707,486 shares of the company's stock worth $6,396,000 after purchasing an additional 521,944 shares during the period. Institutional investors own 37.73% of the company's stock.

About Ondas

Ondas Holdings Inc NASDAQ: ONDS develops autonomous drone systems and private wireless networking solutions for industrial, government, and critical-infrastructure applications. Its businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.

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