Ondas (NASDAQ:ONDS) Stock Price Down 2.4% on Insider Selling

Ondas Holdings Inc. (NASDAQ:ONDS) shares were down 2.4% on Wednesday following insider selling activity. The company traded as low as $7.69 and last traded at $8.24. Approximately 114,481,981 shares were traded during trading, an increase of 254% from the average daily volume of 32,382,301 shares. The stock had previously closed at $8.44.

Specifically, Director Ron Stern sold 850,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total transaction of $6,723,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

ONDS has been the topic of several recent research reports. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Friday, November 14th. Zacks Research cut shares of Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Loop Capital set a $10.00 price target on shares of Ondas in a research report on Wednesday. Lake Street Capital boosted their price objective on shares of Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC upped their price objective on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.67.

Ondas Stock Performance

The company has a market capitalization of $3.04 billion, a PE ratio of -20.60 and a beta of 2.43. The stock has a fifty day moving average of $7.65 and a 200 day moving average of $4.46.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. Ondas has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Institutional Trading of Ondas

Hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC bought a new position in shares of Ondas during the 2nd quarter valued at about $14,479,000. Vanguard Group Inc. lifted its position in shares of Ondas by 109.9% in the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock worth $103,567,000 after buying an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. bought a new position in Ondas during the second quarter valued at approximately $11,123,000. Two Sigma Investments LP grew its holdings in Ondas by 1,325.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after buying an additional 4,247,859 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after buying an additional 3,383,629 shares in the last quarter. Hedge funds and other institutional investors own 37.73% of the company’s stock.

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.