Ondas (NASDAQ:ONDS) Trading 5.2% Higher – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price was up 5.2% during mid-day trading on Tuesday . The company traded as high as $8.20 and last traded at $8.09. 51,431,606 shares changed hands during trading, an increase of 47% from the average daily volume of 35,081,484 shares. The stock had previously closed at $7.69.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Loop Capital set a $10.00 price target on shares of Ondas in a research report on Wednesday, November 26th. Zacks Research lowered shares of Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. HC Wainwright started coverage on shares of Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 target price for the company. Lake Street Capital upped their price target on shares of Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Needham & Company LLC raised their price target on Ondas from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.43.

Ondas Stock Performance

The firm’s 50-day simple moving average is $7.79 and its 200-day simple moving average is $5.18. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -20.23 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last released 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 company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. Equities research analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Insider Buying and Selling 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 stock was sold at an average price of $7.91, for a total transaction of $6,723,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after buying an additional 9,904 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Ondas by 231.4% during the 3rd quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after acquiring an additional 2,892 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Ondas during the 1st quarter worth about $34,000. Penbrook Management LLC acquired a new stake in shares of Ondas during the 2nd quarter valued at about $35,000. Finally, Exencial Wealth Advisors LLC bought a new stake in Ondas in the second quarter valued at about $36,000. 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.