Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Up 384.6% in March

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 14,490,000 shares, a growth of 384.6% from the February 28th total of 2,990,000 shares. Based on an average daily trading volume, of 7,740,000 shares, the short-interest ratio is presently 1.9 days. Approximately 21.8% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Northland Securities raised their target price on Ondas from $1.50 to $4.00 and gave the company an "outperform" rating in a research note on Monday, December 30th.

Ondas Price Performance

Shares of NASDAQ:ONDS traded down $0.05 during trading hours on Monday, hitting $1.07. 28,117,999 shares of the company's stock traded hands, compared to its average volume of 2,869,166. The company's fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.25. The company has a market cap of $113.13 million, a price-to-earnings ratio of -1.49 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 has a 52 week low of $0.54 and a 52 week high of $3.40.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The business had revenue of $4.13 million for the quarter, compared to the consensus estimate of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. As a group, equities analysts anticipate that Ondas will post -0.53 EPS for the current fiscal year.

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Institutional Investors Weigh In On Ondas

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ondas during the fourth quarter valued at $46,000. Squarepoint Ops LLC purchased a new stake in Ondas during the fourth quarter valued at about $48,000. Two Sigma Investments LP acquired a new position in shares of Ondas in the fourth quarter worth about $31,000. Millennium Management LLC increased its position in shares of Ondas by 150.0% in the fourth quarter. Millennium Management LLC now owns 28,366 shares of the company's stock worth $73,000 after acquiring an additional 17,021 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Ondas in the fourth quarter worth approximately $3,288,000. 37.73% of the stock is owned by institutional investors.

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.