Ondas (NASDAQ:ONDS) Stock Price Down 9% - Time to Sell?

Key Points

• Ondas shares fell 9% to $5.27, with about 52.4 million shares traded—33% below average volume.
• Analyst views are mixed, but the overall rating is Moderate Buy with a consensus price target of $16.89; ratings range from strong sell to buy.
• In its latest reported quarter, Ondas lost $0.19 per share, missing estimates of a $0.09 loss, while revenue of $83.77 million exceeded forecasts of $67.97 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares dropped 9% during trading on Wednesday. The company traded as low as $5.22 and last traded at $5.27. Approximately 52,353,092 shares traded hands during trading, a decline of 33% from the average daily volume of 77,711,914 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ondas in a research report on Monday. Oppenheimer upped their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, August 14th. The Goldman Sachs Group upgraded Ondas to a "buy" rating in a research report on Monday. Wall Street Zen lowered shares of Ondas from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Finally, Citigroup reiterated a "market outperform" rating on shares of Ondas in a research report on Monday, October 19th. 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 company's stock. According to MarketBeat.com, Ondas presently has an average rating of "Moderate Buy" and a consensus target price of $16.89.

Ondas Trading Down 9.0%

The stock's fifty day moving average price is $7.07 and its two-hundred day moving average price is $8.99. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -75.29 and a beta of 3.10.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) EPS 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 analyst estimates of $67.97 million. Analysts anticipate that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Ondas

In other news, CFO Neil Laird sold 4,952 shares of the firm's stock in a transaction that occurred on Thursday, September 24th. The shares were 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 of the company's stock, valued at $326,984.04. This trade represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Cohen sold 7,500 shares of Ondas stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the sale, the director owned 261,836 shares of the company's stock, valued at approximately $2,346,050.56. This represents a 2.78% decrease in their position. 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 owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Ondas in the 3rd quarter valued at approximately $26,000. Pinnacle Wealth Planning Services Inc. increased its position in Ondas by 7,185.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company's stock worth $26,000 after buying an additional 3,521 shares during the period. NFSG Corp increased its holdings in shares of Ondas by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company's stock worth $27,000 after acquiring an additional 2,000 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Ondas in the first quarter valued at approximately $28,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ondas by 5,373.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company's stock worth $28,000 after purchasing an additional 3,063 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company's stock.

Ondas Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.