Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Drops By 20.9%

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,780,000 shares, a decline 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.

Hedge Funds Weigh In On Ondas

Hedge funds have recently made changes to their positions in the stock. Wealth Effects LLC increased its position in Ondas by 9.8% during the 2nd quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock valued at $91,000 after purchasing an additional 14,000 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Ondas by 17.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $174,000 after purchasing an additional 44,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ondas by 12.8% during the third quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock worth $480,000 after buying an additional 70,502 shares during the period. Finally, Vanguard Group Inc. raised its stake in Ondas by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,085,224 shares of the company’s stock worth $2,023,000 after buying an additional 196,568 shares during the last quarter. 37.73% of the stock is currently owned by institutional investors.

Ondas Stock Up 3.8 %

Shares of NASDAQ ONDS opened at $0.87 on Friday. The firm has a 50 day moving average price of $0.81 and a two-hundred day moving average price of $0.80. Ondas has a 52-week low of $0.54 and a 52-week high of $1.99. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.48 million during the quarter, compared to analyst estimates of $1.32 million. Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Analysts forecast that Ondas will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

Separately, Northland Securities dropped their target price on Ondas from $2.00 to $1.50 and set an “outperform” rating for the company in a research report on Friday, August 16th.

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.