Key Points
- Ondas CEO Eric Brock sold 2.38 million shares on June 2 at an average price of $13.43, totaling about $31.9 million. The company said the sale was to cover tax withholding obligations tied to vested equity awards.
- After the transaction, Brock still directly owned 3.58 million shares, valued at roughly $48.1 million, but his ownership fell by nearly 39.9%.
- Ondas stock has been volatile, with shares opening at $13.58 and trading near its 52-week high of $15.28. Analysts currently have a Moderate Buy consensus and an average price target of $17.25, though recent ratings have been mixed.
Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) CEO Eric Brock sold 2,378,245 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $13.43, for a total value of $31,939,830.35. Following the completion of the sale, the chief executive officer directly owned 3,583,010 shares of the company's stock, valued at approximately $48,119,824.30. The trade was a 39.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ondas Stock Up 0.9%
ONDS opened at $13.58 on Wednesday. Ondas Holdings Inc. has a 12-month low of $1.36 and a 12-month high of $15.28. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 339.50 and a beta of 2.60. The business has a 50 day moving average of $9.96 and a 200-day moving average of $9.93.
Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.33). The firm had revenue of $30.11 million for the quarter, compared to analyst estimates of $27.49 million. Ondas had a negative return on equity of 14.17% and a net margin of 247.85%. As a group, analysts expect that Ondas Holdings Inc. will post -0.28 earnings per share for the current year.
Hedge Funds Weigh In On Ondas
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Ondas by 39.9% during the 4th quarter. Vanguard Group Inc. now owns 18,767,157 shares of the company's stock worth $183,167,000 after acquiring an additional 5,351,725 shares during the period. Van ECK Associates Corp bought a new position in Ondas during the 4th quarter worth $71,202,000. State Street Corp increased its stake in Ondas by 130.2% during the 4th quarter. State Street Corp now owns 5,162,151 shares of the company's stock worth $50,383,000 after acquiring an additional 2,920,071 shares during the period. Two Sigma Investments LP increased its stake in Ondas by 1,325.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company's stock worth $35,267,000 after acquiring an additional 4,247,859 shares during the period. Finally, Geode Capital Management LLC increased its stake in Ondas by 22.3% during the 4th quarter. Geode Capital Management LLC now owns 4,255,992 shares of the company's stock worth $41,558,000 after acquiring an additional 774,862 shares during the period. Institutional investors own 37.73% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on ONDS. Wall Street Zen cut Ondas from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. HC Wainwright set a $17.00 price target on Ondas and gave the stock a "buy" rating in a report on Tuesday, March 10th. Zacks Research raised Ondas from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. LADENBURG THALM/SH SH raised Ondas to a "strong-buy" rating in a report on Wednesday, May 6th. Finally, Northland Securities lifted their price target on Ondas from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ondas presently has an average rating of "Moderate Buy" and an average price target of $17.25.
Check Out Our Latest Stock Analysis on Ondas
Ondas Company Profile
(
Get Free Report)
Ondas Holdings, Inc (NASDAQ: ONDS) develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.
The company's Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.
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