Ondas Holdings Inc. (NASDAQ: ONDS) stock fell -0.19% on Wednesday to $2.68 against a previous-day closing price of $2.69. With 0.19 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.26 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $2.7100 whereas the lowest price it dropped to was $2.5801. The 52-week range on ONDS shows that it touched its highest point at $8.65 and its lowest point at $2.51 during that stretch. It currently has a 1-year price target of $5.00. Beta for the stock currently stands at 0.73.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ONDS was down-trending over the past week, with a drop of -7.73%, but this was down by -39.66% over a month. Three-month performance dropped to -46.30% while six-month performance fell -60.34%. The stock lost -68.37% in the past year, while it has lost -59.99% so far this year. A look at the trailing 12-month EPS for ONDS yields -0.74 with Next year EPS estimates of -0.46. For the next quarter, that number is -0.22. This implies an EPS growth rate of 33.40% for this year and 53.60% for next year.
Float and Shares Shorts:
At present, 42.17 million ONDS shares are outstanding with a float of 35.80 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.73 million, which was 8.75% higher than short shares on Sep 14, 2022. In addition to Mr. Eric Ashley Brock CPA as the firm’s Chairman & CEO, Mr. Derek R. Reisfield serves as its Pres, CFO, Treasurer, Sec. & Director.
Through their ownership of 24.90% of ONDS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.91% of ONDS, in contrast to 13.22% held by mutual funds. Shares owned by individuals account for 10.77%. As the largest shareholder in ONDS with 4.55% of the stake, BlackRock Fund Advisors holds 1,941,158 shares worth 1,941,158. A second-largest stockholder of ONDS, The Vanguard Group, Inc., holds 1,644,364 shares, controlling over 3.85% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ONDS, holding 1,198,160 shares or 2.81% stake. With a 2.51% stake in ONDS, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,071,044 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.89% of ONDS stock, is the second-largest Mutual Fund holder. It holds 806,799 shares valued at 3.23 million. SPDR S&P Kensho New Economies Com holds 1.43% of the stake in ONDS, owning 610,833 shares worth 2.44 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ONDS since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ONDS analysts setting a high price target of $5.00 and a low target of $5.00, the average target price over the next 12 months is $5.00. Based on these targets, ONDS could surge 86.57% to reach the target high and rise by 86.57% to reach the target low. Reaching the average price target will result in a growth of 86.57% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ONDS will report FY 2022 earnings on 03/06/2023. Analysts have provided yearly estimates in a range of -$1.02 being high and -$1.07 being low. For ONDS, this leads to a yearly average estimate of -$1.04. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ondas Holdings Inc. surprised analysts by -$0.09 when it reported -$0.32 EPS against a consensus estimate of -$0.23. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.27 and the low estimate is -$0.27. The average estimate for the next quarter is thus -$0.27.
Summary of Insider Activity:
Insiders traded ONDS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 28,500 while 218,380 shares were sold.