Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Up 384.6% in March

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 14,490,000 shares, a growth of 384.6% from the February 28th total of 2,990,000 shares. Based on an average trading volume of 7,740,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 21.8% of the shares of the stock are sold short.

Institutional Trading of Ondas

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted 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 purchasing an additional 5,000 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after purchasing an additional 6,200 shares during the period. Penbrook Management LLC acquired a new position in shares of Ondas in the fourth quarter valued at approximately $28,000. Two Sigma Investments LP purchased a new stake in Ondas during the 4th quarter worth approximately $31,000. Finally, Staley Capital Advisers Inc. acquired a new stake in Ondas during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 37.73% of the company’s stock.

Analyst Ratings Changes

Separately, Northland Securities increased their price objective on shares of Ondas from $1.50 to $4.00 and gave the company an “outperform” rating in a report on Monday, December 30th.

Ondas Trading Up 9.5 %

Ondas stock traded up $0.10 during trading on Friday, reaching $1.10. 12,983,435 shares of the company were exchanged, compared to its average volume of 2,743,337. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. The stock’s 50 day simple moving average is $1.36 and its two-hundred day simple moving average is $1.24. The company has a market capitalization of $115.78 million, a P/E ratio of -1.52 and a beta of 2.00. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $5.75 million. On average, equities research analysts expect that Ondas will post -0.53 earnings per share for the current fiscal year.

About Ondas

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.