Ondas (NASDAQ:ONDS) Downgraded to “Sell” at Zacks Investment Research

Ondas (NASDAQ:ONDSGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Ondas Holdings Inc. is a developer of private licensed wireless data networks for mission-critical industrial markets, through its wholly owned subsidiary, Ondas Networks Inc. It serves utilities, oil and gas, transportation and government entities. Ondas Holdings Inc. is based in Sunnyvale, United States. “

Shares of NASDAQ ONDS opened at $6.04 on Friday. The business’s 50 day moving average price is $6.78 and its 200 day moving average price is $6.70. The firm has a market cap of $247.59 million, a P/E ratio of -13.42 and a beta of -1.00. Ondas has a 52 week low of $3.92 and a 52 week high of $11.74.

Ondas (NASDAQ:ONDSGet Rating) last issued its earnings results on Tuesday, March 22nd. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. The firm had revenue of $0.57 million during the quarter, compared to analysts’ expectations of $0.85 million. As a group, sell-side analysts anticipate that Ondas will post -0.63 earnings per share for the current year.

Several large investors have recently made changes to their positions in ONDS. Bleichroeder LP raised its stake in Ondas by 36.0% in the 1st quarter. Bleichroeder LP now owns 679,752 shares of the company’s stock valued at $4,962,000 after purchasing an additional 179,752 shares during the last quarter. BlackRock Inc. raised its stake in Ondas by 312.1% in the 4th quarter. BlackRock Inc. now owns 485,975 shares of the company’s stock valued at $3,261,000 after purchasing an additional 368,062 shares during the last quarter. Geode Capital Management LLC raised its stake in Ondas by 19.2% in the 4th quarter. Geode Capital Management LLC now owns 299,593 shares of the company’s stock valued at $2,010,000 after purchasing an additional 48,309 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Ondas by 2.0% in the 4th quarter. Integrated Investment Consultants LLC now owns 179,675 shares of the company’s stock valued at $1,206,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Marathon Capital Management acquired a new position in Ondas in the 4th quarter valued at $1,204,000. Hedge funds and other institutional investors own 17.54% of the company’s stock.

About Ondas (Get Rating)

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions in the United States and internationally. The company operates in two segments, Ondas Networks and American Robotics. It designs, develops, manufactures, sells, and supports FullMAX software defined radio (SDR) platform.

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