Significant Drop in Short Interest for Ondas Holdings Inc. (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) saw a notable decrease in short interest during January. As of January 15th, the total short interest was 3,830,000 shares, representing a 37.4% drop from December 31st, when short interest stood at 6,120,000 shares. Given the average trading volume of 5,490,000 shares, the short-interest ratio is now at 0.7 days.

Insiders Make Stock Moves

In other developments related to Ondas, Director Randy Seidl sold 21,359 shares on December 19th. The sale occurred at an average price of $1.29 per share, resulting in a total of $27,553.11. Following this transaction, Seidl holds 124,513 shares that are valued at approximately $160,621.77, which reflects a 14.64% decrease in his stock ownership. This transaction has been disclosed in a filing with the SEC, which can be accessed for further details. At present, insiders control 13.90% of the stock.

Institutional Investor Activity

Several institutional investors and hedge funds have been active in buying and selling shares of Ondas. For instance, Penbrook Management LLC acquired a new stake worth about $28,000 during the fourth quarter. Koshinski Asset Management Inc. increased its position in Ondas by 15.2%, owning now 37,940 shares valued at $97,000 after purchasing an additional 5,000 shares. Furthermore, Wealth Effects LLC raised its stake by 7.7%, possessing 168,500 shares worth $130,000 after acquiring 12,000 more shares last quarter. Diamond Hill Capital Management Inc. boosted its shares in Ondas by 35.8%, now holding 407,400 shares valued at $314,000, and Geode Capital Management LLC increased its holdings by 12.8%, owning 622,595 shares now worth $480,000. A total of 37.73% of Ondas stock is held by institutional investors.

Analysts' Views

On another note, on December 30th, Northland Securities raised the target price for Ondas from $1.50 to $4.00, maintaining an "outperform" rating for the stock.

Ondas Stock Overview

In mid-day trading on a recent Friday, shares of NASDAQ:ONDS climbed by $0.06, reaching a price of $1.75. The volume traded was 3,069,178 shares, compared to the average volume of 8,028,329. The current 50-day moving average price of the stock stands at $1.74, while the 200-day moving average price is $1.15. Ondas has recorded a market capitalization of $135.26 million, a PE ratio of -2.43, and a beta of 1.95. Over the past year, the stock hit a low of $0.54 and a high of $3.40. Financial ratios include a debt-to-equity ratio of 0.02, a current ratio of 0.43, and a quick ratio of 0.21.

Ondas last reported its quarterly earnings on November 12th, where it showed earnings per share of ($0.15), missing analysts' expectations of ($0.14) by $0.01. The company's return on equity was reported at a negative 183.49%, with a net margin of -544.24%. The revenue generated during this quarter was $1.48 million, surpassing the consensus estimate of $1.32 million. Analysts predict an average EPS of -0.53 for the current fiscal year.

About Ondas Holdings Inc.

Ondas Holdings Inc. is a company that provides a range of private wireless, drone, and automated data solutions through its subsidiaries. The operations are split into two segments: Ondas Networks and Ondas Autonomous Systems. The company is known for its FullMAX platform, which is a software-defined radio (SDR) solution designed for wide-area broadband networks.

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