Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Increases By 384.6%

Ondas Holdings Inc. (NASDAQ:ONDS) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 14,490,000 shares, a growth of 384.6% from the February 28th total of 2,990,000 shares. Approximately 21.8% of the company’s shares are short sold. Based on an average daily volume of 7,740,000 shares, the short-interest ratio is currently 1.9 days.

Ondas Trading Up 12.0 %

Shares of ONDS opened at $1.12 on Friday. The stock has a market capitalization of $118.42 million, a P/E ratio of -1.56 and a beta of 2.00. Ondas has a twelve month low of $0.54 and a twelve month 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 has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.24.

Ondas (NASDAQ:ONDS) last posted its earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $4.13 million during the quarter, compared to the consensus estimate of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. On average, research analysts anticipate that Ondas will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ONDS. Penbrook Management LLC bought a new stake in Ondas during the 4th quarter valued at approximately $28,000. Wells Fargo & Company MN lifted its stake in shares of Ondas by 119.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after purchasing an additional 6,200 shares during the period. Two Sigma Investments LP bought a new stake in shares of Ondas during the fourth quarter valued at approximately $31,000. Staley Capital Advisers Inc. purchased a new stake in Ondas in the fourth quarter worth $32,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Ondas in the fourth quarter worth $46,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Northland Securities boosted their target price on Ondas from $1.50 to $4.00 and gave the company an “outperform” rating in a research note on Monday, December 30th.

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.