Ondas (NASDAQ:ONDS) Shares Down 4.1% - Should You Sell?

Key Points

• Ondas shares fell 4.1% to about $7.40, with 53.6 million shares traded. The stock remains below its 50-day and 200-day moving averages of $7.97 and $9.04, respectively.
• Analyst sentiment is broadly positive: eight analysts rate Ondas a Buy, one rates it Hold, and one rates it Sell. The average price target is $17.18, substantially above the recent share price.
• Ondas reported a quarterly loss of $0.19 per share, missing expectations by $0.10, although revenue of $83.77 million exceeded estimates. An insider sold 7,500 shares under a pre-arranged trading plan, while institutional investors own 37.73% of the stock.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) were down 4.1% during trading on Wednesday . The company traded as low as $7.38 and last traded at $7.40. 53,626,237 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 82,072,664 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. LADENBURG THALM/SH SH lifted their target price on shares of Ondas from $21.50 to $22.75 and gave the stock a "buy" rating in a research note on Monday, August 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of Ondas in a research note on Monday, September 14th. Weiss Ratings cut Ondas from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Ondas from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Oppenheimer raised their price target on Ondas from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ondas presently has an average rating of "Moderate Buy" and an average price target of $17.18.

Ondas Stock Down 4.3%

The firm's fifty day moving average is $7.97 and its 200-day moving average is $9.04. The stock has a market capitalization of $4.22 billion, a PE ratio of -105.57 and a beta of 2.74.

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

Insider Buying and Selling at Ondas

In related news, Director Richard Cohen sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director directly owned 261,836 shares of the company's stock, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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

A number of large investors have recently added to or reduced their stakes in ONDS. BlueCrest Capital Management Ltd acquired a new stake in shares of Ondas in the second quarter valued at approximately $330,000. WINTON GROUP Ltd acquired a new position in Ondas in the second quarter valued at $2,294,000. RFG Advisory LLC increased its stake in shares of Ondas by 57.0% during the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company's stock valued at $22,967,000 after acquiring an additional 1,012,353 shares during the last quarter. NewEdge Advisors LLC increased its position in Ondas by 47.4% during the second quarter. NewEdge Advisors LLC now owns 43,484 shares of the company's stock worth $358,000 after purchasing an additional 13,993 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD raised its position in shares of Ondas by 63.0% in the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company's stock worth $8,380,000 after buying an additional 393,133 shares during the period. 37.73% of the stock is owned by institutional investors and hedge funds.

Ondas Company Profile

Ondas Holdings Inc NASDAQ: ONDS develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.

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