FY2024 EPS Estimates for Ondas Holdings Inc. Cut by Analyst (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) – Analysts at Northland Capmk cut their FY2024 earnings estimates for shares of Ondas in a note issued to investors on Monday, September 16th. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings of ($0.52) per share for the year, down from their previous forecast of ($0.51). The consensus estimate for Ondas’ current full-year earnings is ($0.50) per share. Northland Capmk also issued estimates for Ondas’ Q4 2024 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.25) EPS.

Separately, Northland Securities lowered their price target on shares of Ondas from $2.00 to $1.50 and set an “outperform” rating for the company in a research report on Friday, August 16th.

Ondas Stock Performance

Shares of NASDAQ:ONDS opened at $0.77 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.27 and a debt-to-equity ratio of 0.03. Ondas has a 1-year low of $0.31 and a 1-year high of $1.99. The stock has a market capitalization of $51.10 million, a P/E ratio of -1.01 and a beta of 2.49. The business has a 50-day moving average price of $0.86 and a two-hundred day moving average price of $0.85.

Ondas (NASDAQ:ONDS) last released its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Ondas had a negative return on equity of 132.10% and a negative net margin of 450.02%. The company had revenue of $0.96 million during the quarter, compared to the consensus estimate of $0.85 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share.

Hedge Funds Weigh In On Ondas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Ondas by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,085,224 shares of the company’s stock worth $2,023,000 after purchasing an additional 196,568 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Ondas during the 4th quarter worth $177,000. Ceeto Capital Group LLC lifted its holdings in Ondas by 35.4% during the first quarter. Ceeto Capital Group LLC now owns 260,000 shares of the company’s stock worth $252,000 after acquiring an additional 68,000 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Ondas by 17.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $174,000 after acquiring an additional 44,000 shares during the period. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Ondas in the first quarter worth about $28,000. Institutional investors own 37.73% of the company’s stock.

Ondas Company Profile

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.