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

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ONDS. B. Riley Wealth Advisors Inc. bought a new stake in Ondas during the fourth quarter valued at about $46,000. Squarepoint Ops LLC bought a new stake in shares of Ondas in the 4th quarter valued at about $48,000. Two Sigma Investments LP purchased a new position in shares of Ondas in the 4th quarter worth approximately $31,000. Millennium Management LLC raised its stake in shares of Ondas by 150.0% during the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company’s stock worth $73,000 after acquiring an additional 17,021 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Ondas during the fourth quarter valued at approximately $3,288,000. 37.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Ondas Stock Down 4.6 %

Shares of Ondas stock opened at $0.85 on Thursday. Ondas has a 1 year low of $0.54 and a 1 year high of $3.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. The stock has a market cap of $89.34 million, a price-to-earnings ratio of -1.17 and a beta of 2.00. The firm’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.24.

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

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.