FY2024 Earnings Forecast for Ondas Holdings Inc. (NASDAQ:ONDS) Issued By Northland Capmk

Ondas Holdings Inc. (NASDAQ:ONDS) – Stock analysts at Northland Capmk dropped their FY2024 earnings per share (EPS) estimates for Ondas in a research note issued on Monday, September 16th. Northland Capmk analyst M. Latimore now anticipates that the company will post earnings per share of ($0.52) for the year, down from their prior 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 cut their target price on Ondas from $2.00 to $1.50 and set an “outperform” rating for the company in a research note on Friday, August 16th.

Ondas Price Performance

Shares of NASDAQ:ONDS opened at $0.77 on Thursday. Ondas has a 52 week low of $0.31 and a 52 week high of $1.99. The company has a 50-day moving average price of $0.86 and a 200 day moving average price of $0.85. The company has a market cap of $51.03 million, a P/E ratio of -1.01 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 (NASDAQ:ONDS) last released its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. Ondas had a negative net margin of 450.02% and a negative return on equity of 132.10%. The company had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $0.85 million. During the same quarter last year, the business earned ($0.18) EPS.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. 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 acquiring an additional 14,000 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Ondas during the 4th quarter worth approximately $43,000. Koshinski Asset Management Inc. acquired a new position in shares of Ondas during the 1st quarter worth approximately $28,000. Diamond Hill Capital Management Inc. raised 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 worth $174,000 after purchasing an additional 44,000 shares during the last quarter. Finally, Ceeto Capital Group LLC grew its holdings in Ondas by 35.4% during the 1st quarter. Ceeto Capital Group LLC now owns 260,000 shares of the company’s stock valued at $252,000 after buying an additional 68,000 shares during the last quarter. 37.73% of the stock is owned by hedge funds and other institutional investors.

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.