Ondas Holdings Inc. (NASDAQ:ONDS) Sees Large Increase in Short Interest

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 3,750,000 shares, an increase of 42.6% from the January 31st total of 2,630,000 shares. Based on an average trading volume of 6,440,000 shares, the days-to-cover ratio is presently 0.6 days.

Analysts Set New Price Targets

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

Ondas Price Performance

ONDS traded down $0.13 on Monday, hitting $0.85. 2,786,855 shares of the company were exchanged, compared to its average volume of 1,891,992. Ondas has a fifty-two week low of $0.54 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43. The firm has a market capitalization of $77.80 million, a P/E ratio of -1.18 and a beta of 1.89. The business’s fifty day moving average is $1.94 and its 200 day moving average is $1.25.

Insider Transactions at Ondas

In related news, Director Randy Seidl sold 21,359 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $1.29, for a total transaction of $27,553.11. Following the transaction, the director now owns 124,513 shares of the company’s stock, valued at $160,621.77. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On Ondas

Institutional investors have recently modified their holdings of the company. Penbrook Management LLC acquired a new position in Ondas during the fourth quarter worth $28,000. Wells Fargo & Company MN grew its holdings in Ondas by 119.2% in the fourth 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 last quarter. Two Sigma Investments LP purchased a new position in shares of Ondas in the fourth quarter valued at $31,000. Staley Capital Advisers Inc. acquired a new position in shares of Ondas during the 4th quarter worth $32,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ondas in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

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.