Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Update

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,990,000 shares, a drop of 20.3% from the February 13th total of 3,750,000 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 7,570,000 shares, the days-to-cover ratio is currently 0.4 days.

Insider Buying and Selling at Ondas

In related news, Director Randy Seidl sold 21,359 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $1.29, for a total transaction of $27,553.11. Following the completion of the sale, the director now owns 124,513 shares in the company, valued at approximately $160,621.77. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Ondas by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock worth $480,000 after buying an additional 70,502 shares in the last quarter. AMH Equity Ltd purchased a new position in Ondas in the fourth quarter worth about $952,000. Koshinski Asset Management Inc. increased its stake in Ondas by 15.2% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,940 shares of the company’s stock worth $97,000 after acquiring an additional 5,000 shares during the last quarter. Penbrook Management LLC purchased a new stake in Ondas during the fourth quarter valued at approximately $28,000. Finally, Wealth Effects LLC lifted its stake in shares of Ondas by 23.4% in the 4th quarter. Wealth Effects LLC now owns 207,900 shares of the company’s stock valued at $532,000 after purchasing an additional 39,400 shares during the last quarter. 37.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Northland Securities upped their price target on Ondas from $1.50 to $4.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th.

Ondas Price Performance

ONDS traded up $0.01 during trading on Wednesday, hitting $0.76. 2,208,698 shares of the company traded hands, compared to its average volume of 2,530,573. The company has a current ratio of 0.43, a quick ratio of 0.21 and a debt-to-equity ratio of 0.02. The company has a market cap of $69.16 million, a PE ratio of -1.05 and a beta of 2.00. The stock’s 50-day simple moving average is $1.55 and its two-hundred day simple moving average is $1.25. Ondas has a 1 year low of $0.54 and a 1 year high of $3.40.

Ondas (NASDAQ:ONDS) last posted its earnings results on Wednesday, March 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. As a group, sell-side analysts anticipate that Ondas will post -0.53 earnings per share for the current fiscal year.

Ondas Company Profile

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.