Northland Capmk Comments on Ondas Holdings Inc.’s FY2024 Earnings (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) – Northland Capmk decreased their FY2024 earnings per share estimates for Ondas in a report released on Monday, September 16th. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings of ($0.52) per share for the year, down from their prior forecast of ($0.51). The consensus estimate for Ondas’ current full-year earnings is ($0.50) per share. Northland Capmk also issued estimates for Ondas’ Q4 2024 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.25) EPS.

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

Ondas Price Performance

Shares of ONDS stock opened at $0.77 on Thursday. Ondas has a one year low of $0.31 and a one year high of $1.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.40 and a quick ratio of 0.27. The stock has a fifty day moving average price of $0.86 and a 200 day moving average price of $0.85. The stock has a market cap of $51.10 million, a P/E ratio of -1.01 and a beta of 2.49.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. Ondas had a negative return on equity of 132.10% and a negative net margin of 450.02%. The firm had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.85 million. During the same period in the previous year, the company posted ($0.18) earnings per share.

Institutional Trading of Ondas

A number of large investors have recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new stake in shares of Ondas during the first quarter worth approximately $28,000. Truist Financial Corp acquired a new stake in Ondas during the 4th quarter valued at $43,000. Wealth Effects LLC raised its position in Ondas by 9.8% in the 2nd quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock valued at $91,000 after purchasing an additional 14,000 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Ondas by 17.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock worth $174,000 after purchasing an additional 44,000 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Ondas during the fourth quarter worth $177,000. 37.73% of the stock is currently owned by institutional investors.

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.