Ondas (NASDAQ:ONDS) Shares Gap Down – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.92, but opened at $8.64. Ondas shares last traded at $8.9170, with a volume of 22,894,297 shares.

Wall Street Analysts Forecast Growth

ONDS has been the topic of a number of recent research reports. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Friday, November 14th. Needham & Company LLC increased their target price on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Loop Capital set a $10.00 price target on Ondas in a research report on Wednesday, November 26th. HC Wainwright initiated coverage on Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price target for the company. Finally, Zacks Research downgraded Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Ondas Price Performance

The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -22.38 and a beta of 2.42. The business has a 50 day moving average of $7.75 and a 200 day moving average of $4.71.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings results 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). The business had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. On average, sell-side analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Ondas news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Ondas

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in Ondas by 231.4% during the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after acquiring an additional 2,892 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Ondas in the 3rd quarter worth about $67,000. HBK Sorce Advisory LLC acquired a new stake in shares of Ondas during the 3rd quarter worth about $77,000. SG Americas Securities LLC bought a new position in Ondas during the 3rd quarter valued at about $78,000. Finally, Shikiar Asset Management Inc. acquired a new position in Ondas in the third quarter valued at about $85,000. Institutional investors and hedge funds 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.