Stock Traders Purchase Large Volume of Call Options on Ondas (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of unusually large options trading activity on Thursday. Traders bought 119,929 call options on the company. This is an increase of approximately 40% compared to the average daily volume of 85,772 call options.

Hedge Funds Weigh In On Ondas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RiverGlades Family Offices LLC increased its stake in Ondas by 54.0% in the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock worth $119,000 after acquiring an additional 5,400 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Ondas by 154.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after acquiring an additional 9,904 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of Ondas in the third quarter valued at $77,000. SG Americas Securities LLC bought a new stake in shares of Ondas in the 3rd quarter worth about $78,000. Finally, Shikiar Asset Management Inc. bought a new position in shares of Ondas in the 3rd quarter valued at about $85,000. 37.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONDS. Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. HC Wainwright began coverage on Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Research raised Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Needham & Company LLC started coverage on shares of Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 price target for the company. Finally, Lake Street Capital boosted their target price on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Ondas Stock Up 18.3%

NASDAQ ONDS traded up $1.01 on Thursday, reaching $6.52. The company had a trading volume of 141,980,167 shares, compared to its average volume of 27,307,396. The stock has a market capitalization of $2.40 billion, a PE ratio of -12.55 and a beta of 2.43. Ondas has a 12 month low of $0.57 and a 12 month high of $11.70. The firm’s 50 day moving average price is $7.37 and its 200 day moving average price is $4.00.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The business had revenue of $6.27 million during the quarter, compared to the consensus estimate of $4.97 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. On average, research analysts expect that Ondas will post -0.53 EPS for the current year.

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.