Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Drops By 37.4%

Ondas Holdings Inc. (NASDAQ:ONDS) experienced a notable drop in short interest during January. As of January 15th, the total short interest reached 3,830,000 shares, which is a significant decrease of 37.4% compared to the 6,120,000 shares reported on December 31st. With an average trading volume of 5,490,000 shares, the current short-interest ratio stands at 0.7 days.

Insiders Make Their Moves

In related news, Randy Seidl, a director at Ondas, sold 21,359 shares of the company's stock on December 19th. The shares were sold at an average price of $1.29, bringing the total transaction value to $27,553.11. Post-transaction, Seidl holds 124,513 shares, valued at roughly $160,621.77, which reflects a 14.64% decrease in ownership. This sale is documented in a filing with the SEC, accessible through various financial oversight channels. Currently, insiders own 13.90% of the company's stock.

Institutional Investors Take Action

Various institutional investors and hedge funds have been active in buying and selling shares of Ondas. For example, Penbrook Management LLC acquired a new stake during the fourth quarter valued at about $28,000. Koshinski Asset Management Inc. increased its position by 15.2% in the same quarter, now holding 37,940 shares valued at $97,000 after purchasing an additional 5,000 shares. Wealth Effects LLC also raised its stake by 7.7% in the third quarter, owning now 168,500 shares valued at $130,000 following a 12,000-share purchase. Furthermore, Diamond Hill Capital Management Inc. boosted its holdings by 35.8%, resulting in the ownership of 407,400 shares worth $314,000 after adding 107,400 shares. Geode Capital Management LLC increased its stake by 12.8% during the third quarter, now owning 622,595 shares valued at $480,000. Overall, institutional investors hold 37.73% of the stock.

Updates from Analysts

In another update, Northland Securities has raised their target price for Ondas from $1.50 to $4.00 and has assigned the stock an "outperform" rating in their report dated December 30th.

Ondas Stock Overview

During mid-day trading, shares of NASDAQ:ONDS increased by $0.06, reaching a price of $1.75. A total of 3,069,178 shares changed hands, compared to the average volume of 8,028,329. The company's 50-day moving average price is $1.74, while the 200-day moving average stands at $1.15. Ondas has a market capitalization of $135.26 million, a PE ratio of -2.43, and a beta of 1.95. Its stock reflects a 52-week low of $0.54 and a high of $3.40. The company exhibits a debt-to-equity ratio of 0.02, a current ratio of 0.43, and a quick ratio of 0.21.

Ondas last reported quarterly earnings on November 12th, where it registered earnings of ($0.15) per share, which was below analysts' expectations of ($0.14). The company reflected a negative return on equity of 183.49% and a negative net margin of 544.24%, generating revenue of $1.48 million compared to the anticipated $1.32 million. In the previous year's quarter, Ondas also reported ($0.15) earnings per share. Analysts predict an average EPS of -0.53 for the current fiscal year.

Company Background

Ondas Holdings Inc., through its various subsidiaries, delivers solutions in private wireless, drone technology, and automated data systems. The operation divides into two primary segments: Ondas Networks and Ondas Autonomous Systems. The firm specializes in designing, developing, and manufacturing a software-defined radio signaling platform called FullMAX, intended for wide-area broadband networks.

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