Ondas (NASDAQ:ONDS) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Ondas (NASDAQ:ONDS) released its quarterly earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), Zacks reports. The company had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $1.32 million. Ondas had a negative net margin of 544.24% and a negative return on equity of 163.19%. During the same period in the previous year, the company posted ($0.15) earnings per share.

Ondas Stock Performance

NASDAQ:ONDS traded down $0.04 during trading hours on Wednesday, reaching $0.75. The stock had a trading volume of 266,900 shares, compared to its average volume of 285,944. Ondas has a 12-month low of $0.53 and a 12-month high of $1.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.27 and a current ratio of 0.40. The stock has a 50 day simple moving average of $0.81 and a 200 day simple moving average of $0.80. The stock has a market cap of $52.47 million, a P/E ratio of -1.07 and a beta of 2.47.

Analyst Upgrades and Downgrades

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

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.