Ondas Holdings Inc. [ONDS] Revenue clocked in at $3.10 million, down -11.04% YTD: What’s Next?

Ondas Holdings Inc. [NASDAQ: ONDS] closed the trading session at $8.30 on 06/09/21. The day’s price range saw the stock hit a low of $7.57, while the highest price level was $8.91. The company report on June 9, 2021 that Ondas Holdings Inc. Prices $44.8 Million Public Offering of Common Stock.

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Ondas Holdings Inc. (NASDAQ: ONDS), a developer of proprietary, software-based wireless broadband technology for large established and emerging industrial markets, announced that it has priced its underwritten public offering of 6,400,000 shares of its common stock at a public offering price of $7.00 per share. Ondas expects the gross proceeds from this offering to be $44,800,000, before deducting the underwriting discount and other estimated offering expenses. Ondas intends to use the net proceeds from this offering for working capital and general corporate purposes. Ondas has granted the underwriters a 30-day option to purchase up to 960,000 additional shares of its common stock. Ondas expects to close the offering, subject to customary conditions, on or about June 11, 2021.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering, and B. Riley Securities, Inc. is acting as the lead manager for the offering.

The stocks have a year to date performance of -11.04 percent and weekly performance of -4.93 percent. The stock has been moved at 36.74 percent over the last six months. The stock has performed 27.89 percent around the most recent 30 days and changed -17.74 percent over the most recent 3-months.

If compared to the average trading volume of 358.03K shares, ONDS reached to a volume of 5660406 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ondas Holdings Inc. [ONDS]:

Northland Capital have made an estimate for Ondas Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on December 23, 2020, representing the official price target for Ondas Holdings Inc. stock.

The Average True Range (ATR) for Ondas Holdings Inc. is set at 0.81, with the Price to Sales ratio for ONDS stock in the period of the last 12 months amounting to 74.16. The Price to Book ratio for the last quarter was 15.09, with the Price to Cash per share for the same quarter was set at 0.87.

ONDS stock trade performance evaluation

Ondas Holdings Inc. [ONDS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.93. With this latest performance, ONDS shares gained by 27.89% in over the last four-week period, additionally plugging by 36.74% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONDS stock in for the last two-week period is set at 51.87, with the RSI for the last a single of trading hit 50.67, and the three-weeks RSI is set at 50.69 for Ondas Holdings Inc. [ONDS]. The present Moving Average for the last 50 days of trading for this stock 7.89, while it was recorded at 8.95 for the last single week of trading.

Ondas Holdings Inc. [ONDS]: An insightful look at the core fundamentals

Ondas Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.30.

Ondas Holdings Inc. [ONDS]: Insider Ownership positions

There are presently around $24 million, or 10.70% of ONDS stock, in the hands of institutional investors. The top three institutional holders of ONDS stocks are: HERALD INVESTMENT MANAGEMENT LTD with ownership of 400,000, which is approximately 0% of the company’s market cap and around 7.40% of the total institutional ownership; BANK OF NEW YORK MELLON CORP, holding 384,803 shares of the stock with an approximate value of $3.19 million in ONDS stocks shares; and VANGUARD GROUP INC, currently with $2.44 million in ONDS stock with ownership of nearly New of the company’s market capitalization.

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36 institutional holders increased their position in Ondas Holdings Inc. [NASDAQ:ONDS] by around 1,463,468 shares. Additionally, 6 investors decreased positions by around 191,642 shares, while 3 investors held positions by with 1,189,769 shares. The mentioned changes placed institutional holdings at 2,844,879 shares, according to the latest SEC report filing. ONDS stock had 32 new institutional investments in for a total of 1,225,630 shares, while 2 institutional investors sold positions of 98,984 shares during the same period.

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