Ondas (NASDAQ:ONDS) Stock Price Up 8.4% on Analyst Upgrade

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price was up 8.4% during trading on Thursday after Needham & Company LLC raised their price target on the stock from $10.00 to $12.00. Needham & Company LLC currently has a buy rating on the stock. Ondas traded as high as $9.08 and last traded at $9.02. Approximately 65,567,112 shares changed hands during trading, an increase of 90% from the average daily volume of 34,498,227 shares. The stock had previously closed at $8.32.

Several other equities analysts have also commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ondas in a research report on Monday, December 1st. HC Wainwright began coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 target price for the company. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Friday, November 14th. Lake Street Capital lifted their price target on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Loop Capital set a $10.00 price objective on Ondas in a research report on Wednesday, November 26th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ondas presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Transactions at Ondas

In other news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Ondas

A number of institutional investors have recently bought and sold shares of ONDS. SBI Securities Co. Ltd. boosted its holdings in Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after purchasing an additional 9,904 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ondas during the 1st quarter worth $32,000. IFP Advisors Inc grew its position in shares of Ondas by 231.4% in the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock valued at $32,000 after purchasing an additional 2,892 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Ondas in the 1st quarter valued at approximately $34,000. Finally, Penbrook Management LLC bought a new position in Ondas during the second quarter worth $35,000. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Trading Up 8.4%

The firm’s fifty day moving average price is $7.88 and its 200-day moving average price is $4.99. The company has a market cap of $3.32 billion, a P/E ratio of -22.55 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last issued its earnings results 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). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The business had revenue of $10.10 million for the quarter, compared to analyst estimates of $7.04 million. As a group, research analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

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.