Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Drops By 42.0%

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 8,400,000 shares, a decline of 42.0% from the March 15th total of 14,490,000 shares. Based on an average trading volume of 7,580,000 shares, the short-interest ratio is presently 1.1 days. Currently, 12.6% of the company's stock are sold short.

Institutional Trading of Ondas

Several institutional investors have recently added to or reduced their stakes in the company. Heights Capital Management Inc. increased its holdings in Ondas by 397.6% in the 4th quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company's stock valued at $12,317,000 after buying an additional 3,844,401 shares during the period. Cresset Asset Management LLC acquired a new stake in shares of Ondas in the 4th quarter valued at $3,288,000. Jane Street Group LLC bought a new position in shares of Ondas in the 4th quarter valued at $1,050,000. MYDA Advisors LLC acquired a new position in shares of Ondas during the 4th quarter worth $998,000. Finally, AMH Equity Ltd bought a new stake in shares of Ondas during the 4th quarter worth $952,000. 37.73% of the stock is currently owned by institutional investors.

Ondas Stock Up 2.8 %

Shares of NASDAQ ONDS traded up $0.02 during trading hours on Tuesday, hitting $0.82. The company had a trading volume of 4,916,314 shares, compared to its average volume of 3,335,535. Ondas has a 1-year low of $0.54 and a 1-year high of $3.40. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average is $0.95 and its 200-day moving average is $1.26. The stock has a market capitalization of $104.75 million, a P/E ratio of -1.14 and a beta of 1.87.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Ondas in a report on Monday, April 14th. They issued a "buy" rating and a $2.50 price objective on the stock. Northland Securities boosted their price target on shares of Ondas from $1.50 to $4.00 and gave the stock an "outperform" rating in a research report on Monday, December 30th.

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.