Ondas Holdings Inc. (NASDAQ:ONDS) Short Interest Down 20.9% in November

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of a significant drop in short interest during 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 Ratings Changes

Separately, Northland Securities decreased their price target on Ondas from $2.00 to $1.50 and set an “outperform” rating for the company in a research note on Friday, August 16th.

Institutional Investors Weigh In On Ondas

Several large investors have recently added to or reduced their stakes in ONDS. Vanguard Group Inc. grew its stake in Ondas by 10.4% during 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 during the period. Diamond Hill Capital Management Inc. grew its stake in Ondas by 35.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 407,400 shares of the company’s stock worth $314,000 after purchasing an additional 107,400 shares during the period. Geode Capital Management LLC grew its stake in Ondas by 12.8% during 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 during the period. Finally, Wealth Effects LLC grew its stake in Ondas by 9.8% during the second quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock worth $91,000 after purchasing an additional 14,000 shares during the period. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Trading Up 13.5 %

Shares of ONDS stock traded up $0.12 on Friday, hitting $0.98. The company had a trading volume of 16,927,165 shares, compared to its average volume of 379,734. The firm has a market cap of $76.05 million, a P/E ratio of -1.37 and a beta of 2.47. The stock’s 50-day moving average is $0.81 and its two-hundred day moving average is $0.80. 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 twelve month low of $0.54 and a twelve month high of $1.99.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $1.48 million during the quarter, compared to analyst estimates of $1.32 million. Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. During the same period in the previous year, the company posted ($0.15) EPS. On average, equities research analysts anticipate that Ondas will post -0.53 earnings per share for the current fiscal year.

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.