Ondas Holdings Inc. (NASDAQ:ONDS) Sees Significant Drop in Short Interest

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 1,780,000 shares, a drop of 20.9% from the October 31st total of 2,250,000 shares. Based on an average trading volume of 394,400 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lowered their price objective on shares of Ondas from $2.00 to $1.50 and set an “outperform” rating on the stock in a research report on Friday, August 16th.

Ondas Trading Up 13.5 %

Shares of NASDAQ ONDS traded up $0.12 during midday trading on Friday, reaching $0.98. The company had a trading volume of 16,927,165 shares, compared to its average volume of 508,402. The firm’s fifty day moving average price is $0.81 and its 200-day moving average price is $0.80. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. Ondas has a one year low of $0.54 and a one year high of $1.99. The stock has a market cap of $76.06 million, a PE ratio of -1.37 and a beta of 2.47.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The firm had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $1.32 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts anticipate that Ondas will post -0.53 earnings per share for the current year.

Institutional Trading of Ondas

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Ondas by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,085,224 shares of the company’s stock worth $2,023,000 after purchasing an additional 196,568 shares in the last quarter. Wealth Effects LLC raised its stake in Ondas by 9.8% in the second quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock worth $91,000 after buying an additional 14,000 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Ondas by 17.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock worth $174,000 after buying an additional 44,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in Ondas by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock valued at $480,000 after acquiring an additional 70,502 shares in the last quarter. 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.