Ondas (NASDAQ:ONDS) Stock Price Down 4.9% – Time to Sell?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) dropped 4.9% on Friday. The company traded as low as $5.91 and last traded at $6.04. Approximately 39,190,375 shares were traded during trading, a decline of 51% from the average session volume of 80,182,680 shares. The stock had previously closed at $6.35.

Analyst Ratings Changes

Several brokerages have weighed in on ONDS. Roth Capital reiterated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Citizens Jmp started coverage on shares of Ondas in a research report on Monday, October 5th. They set an “outperform” rating and a $14.00 target price for the company. LADENBURG THALM/SH SH raised their target price on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Citigroup began coverage on shares of Ondas in a research note on Monday, October 5th. They issued a “market outperform” rating for the company. Finally, Oppenheimer lifted their price target on shares of Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Price Performance

The stock’s fifty day moving average is $7.77 and its 200-day moving average is $8.67. The stock has a market capitalization of $3.52 billion, a PE ratio of -86.29 and a beta of 2.92.

Ondas (NASDAQ:ONDS) last posted 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 for the quarter, compared to analysts’ expectations of $67.97 million. On average, analysts forecast that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard M. Cohen sold 7,500 shares of the business’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 transaction of $67,200.00. Following the transaction, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. The sale 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. Also, 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 value of $38,328.48. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ONDS. Cornerstone Enterprises LLC acquired a new position in Ondas in the 3rd quarter valued at about $237,000. Lodestone Wealth Management LLC boosted its position in Ondas by 20.4% in the 3rd quarter. Lodestone Wealth Management LLC now owns 18,688 shares of the company’s stock valued at $137,000 after buying an additional 3,164 shares during the period. Focus Financial Network Inc. boosted its position in Ondas by 6.2% in the 3rd quarter. Focus Financial Network Inc. now owns 71,883 shares of the company’s stock valued at $527,000 after buying an additional 4,216 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Ondas in the third quarter worth $3,075,000. Finally, Signal Advisors Wealth LLC purchased a new stake in shares of Ondas during the third quarter worth $83,000. Hedge funds and other institutional investors 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 technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.