Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Down 20.3% in February

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of a large decline in short interest in 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. Currently, 4.5% of the shares of the company are short sold. Based on an average trading volume of 7,570,000 shares, the days-to-cover ratio is currently 0.4 days.

Insider Activity

In other Ondas news, Director Randy Seidl sold 21,359 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the sale, the director now owns 124,513 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On Ondas

Several institutional investors have recently added to or reduced their stakes in the business. Penbrook Management LLC acquired a new position in shares of Ondas during the 4th quarter valued at about $28,000. Wells Fargo & Company MN lifted its stake in shares of Ondas by 119.2% in the 4th 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 in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Ondas during the 4th quarter worth about $31,000. Staley Capital Advisers Inc. purchased a new position in Ondas in the fourth quarter valued at approximately $32,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Ondas during the 4th quarter valued at $46,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Ondas Price Performance

Ondas stock traded down $0.03 during midday trading on Tuesday, reaching $0.74. 2,399,346 shares of the company were exchanged, compared to its average volume of 2,531,796. The firm’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $1.25. Ondas has a 1 year low of $0.54 and a 1 year high of $3.40. The company has a market capitalization of $67.99 million, a price-to-earnings ratio of -1.03 and a beta of 2.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43.

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

Wall Street Analyst Weigh In

Separately, Northland Securities boosted 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 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.