Ondas (NASDAQ:ONDS) Stock Price Down 2.8% - Here's Why

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

Analysts Set New Price Targets

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

Ondas Stock Down 10.1 %

The firm's 50 day moving average is $2.01 and its two-hundred day moving average is $1.23. The stock has a market cap of $114.10 million, a price-to-earnings 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

In other news, Director Randy Seidl sold 21,359 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total transaction of $27,553.11. Following the completion of the transaction, the director now owns 124,513 shares of the company's stock, valued at $160,621.77. This represents a 14.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Penbrook Management LLC acquired a new position in shares of Ondas during the 4th quarter valued at about $28,000. Wells Fargo & Company MN increased its position in Ondas by 119.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after purchasing an additional 6,200 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Ondas during the 4th quarter worth approximately $31,000. Staley Capital Advisers Inc. acquired a new stake in Ondas during the 4th quarter worth approximately $32,000. Finally, Squarepoint Ops LLC acquired a new stake in Ondas during the 4th quarter worth approximately $48,000. 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.