Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Decreases By 20.3%

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,990,000 shares, a decline 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 daily volume of 7,570,000 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

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

Ondas Stock Performance

Shares of ONDS stock opened at $0.74 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43. The company’s 50-day simple moving average is $1.63 and its 200-day simple moving average is $1.25. Ondas has a one year low of $0.54 and a one year high of $3.40. The stock has a market capitalization of $67.40 million, a price-to-earnings ratio of -1.03 and a beta of 2.00.

Ondas (NASDAQ:ONDS) last issued 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). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The company had revenue of $4.13 million during the quarter, compared to analyst estimates of $5.75 million. Equities analysts anticipate that Ondas will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Randy Seidl sold 21,359 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $1.29, for a total transaction of $27,553.11. Following the transaction, the director now owns 124,513 shares of the company’s stock, valued at approximately $160,621.77. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ONDS. Koshinski Asset Management Inc. boosted its holdings in shares of Ondas by 15.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,940 shares of the company’s stock valued at $97,000 after acquiring an additional 5,000 shares in the last quarter. Wells Fargo & Company MN lifted its position in Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock worth $29,000 after purchasing an additional 6,200 shares during the period. Penbrook Management LLC bought a new position in Ondas during the 4th quarter valued at $28,000. Two Sigma Investments LP bought a new position in Ondas during the 4th quarter valued at $31,000. Finally, Staley Capital Advisers Inc. acquired a new position in shares of Ondas during the 4th quarter valued at $32,000. Institutional investors own 37.73% of the company’s stock.

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.