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

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw a large drop in short interest in the month of 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 daily volume of 394,400 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Upgrades and Downgrades

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

Ondas Trading Up 13.5 %

NASDAQ ONDS traded up $0.12 on Friday, hitting $0.98. 16,900,536 shares of the stock were exchanged, compared to its average volume of 379,234. 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 current ratio of 0.43 and a quick ratio of 0.21. The company has a market capitalization of $76.06 million, a price-to-earnings ratio of -1.42 and a beta of 2.47. The company's 50-day moving average price is $0.81 and its two-hundred day moving average price is $0.80.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 183.49% and a negative net margin of 544.24%. The company had revenue of $1.48 million during the quarter, compared to analysts' expectations of $1.32 million. During the same period last year, the company earned ($0.15) earnings per share. Research analysts predict that Ondas will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wealth Effects LLC lifted its stake in Ondas by 7.7% in the third quarter. Wealth Effects LLC now owns 168,500 shares of the company's stock valued at $130,000 after acquiring an additional 12,000 shares during the last quarter. Diamond Hill Capital Management Inc. lifted 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 boosted its holdings in Ondas by 12.8% in the third quarter. Geode Capital Management LLC now owns 622,595 shares of the company's stock worth $480,000 after purchasing an additional 70,502 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ondas by 10.4% in the first 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. 37.73% of the stock is owned by institutional investors and hedge funds.

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.