Ondas (NASDAQ:ONDS) Trading Up 10.5% – Time to Buy?

Ondas Holdings Inc. (NASDAQ:ONDS) shares were up 10.5% during mid-day trading on Wednesday . The company traded as high as $9.10 and last traded at $8.92. Approximately 139,349,293 shares were traded during mid-day trading, an increase of 320% from the average daily volume of 33,177,734 shares. The stock had previously closed at $8.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Oppenheimer upgraded Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Friday, November 14th. Zacks Research lowered Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ondas in a research report on Monday. Lake Street Capital lifted their price target on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Loop Capital set a $10.00 price objective on shares of Ondas in a research note on Wednesday, November 26th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Ondas Trading Up 10.5%

The firm has a fifty day moving average of $7.72 and a two-hundred day moving average of $4.68. The company has a market capitalization of $3.29 billion, a PE ratio of -22.30 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. On average, equities analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Ondas news, Director Ron Stern sold 850,000 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total transaction of $6,723,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ondas

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Ondas during the first quarter worth about $32,000. Charles Schwab Investment Management Inc. bought a new position in Ondas during the 1st quarter valued at approximately $34,000. PEAK6 LLC lifted its holdings in Ondas by 39.9% in the 1st quarter. PEAK6 LLC now owns 125,920 shares of the company’s stock worth $135,000 after buying an additional 35,919 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ondas by 444.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock worth $120,000 after buying an additional 91,732 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Ondas in the 2nd quarter worth approximately $41,000. 37.73% of the stock is owned by institutional investors.

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.