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

Ondas Holdings Inc. (NASDAQ:ONDS) – Analysts at Northland Capmk cut their FY2024 earnings estimates for Ondas in a research report issued to clients and investors on Monday, September 16th. Northland Capmk analyst M. Latimore now expects that the company will earn ($0.52) per share for the year, down from their previous estimate 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 Ondas from $2.00 to $1.50 and set an “outperform” rating for the company in a research report on Friday, August 16th.

Ondas Price Performance

ONDS stock opened at $0.77 on Thursday. The firm has a market capitalization of $51.14 million, a PE ratio of -1.02 and a beta of 2.49. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.03. Ondas has a twelve month low of $0.31 and a twelve month high of $1.99. The stock’s 50 day moving average is $0.86 and its 200-day moving average is $0.85.

Ondas (NASDAQ:ONDS) last posted 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. The company had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.85 million. Ondas had a negative net margin of 450.02% and a negative return on equity of 132.10%. During the same quarter in the prior year, the business posted ($0.18) EPS.

Institutional Investors Weigh In On Ondas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. bought a new position in shares of Ondas in the first quarter valued at approximately $28,000. Truist Financial Corp bought a new position in Ondas in the 4th quarter valued at $43,000. Wealth Effects LLC grew its stake in Ondas by 9.8% in the 2nd quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock valued at $91,000 after purchasing an additional 14,000 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Ondas by 17.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $174,000 after purchasing an additional 44,000 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Ondas during the 4th quarter worth $177,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

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.