Ondas (NASDAQ:ONDS) Stock Price Down 2.8% – What’s Next?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) traded down 2.8% during trading on Thursday . The stock traded as low as $1.33 and last traded at $1.39. 2,368,937 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 6,158,364 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

Separately, Northland Securities upped 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 Price Performance

The firm’s fifty day moving average price is $2.01 and its 200 day moving average price is $1.23. The firm has a market capitalization of $114.10 million, a PE ratio of -1.74 and a beta of 1.89. The company has a current ratio of 0.43, a quick ratio of 0.21 and a debt-to-equity ratio of 0.02.

Insider Activity at Ondas

In related news, Director Randy Seidl sold 21,359 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the transaction, the director now directly owns 124,513 shares in the company, valued at $160,621.77. The trade was a 14.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On Ondas

Several large investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted its stake in shares of Ondas by 15.2% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,940 shares of the company’s stock valued at $97,000 after purchasing an additional 5,000 shares during the period. 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 during the period. Penbrook Management LLC acquired a new position in shares of Ondas in the 4th quarter valued at $28,000. Two Sigma Investments LP acquired a new position in shares of Ondas in the 4th quarter valued at $31,000. Finally, Staley Capital Advisers Inc. acquired a new position in Ondas during the fourth quarter worth $32,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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.