Ondas (NASDAQ:ONDS) Shares Gap Up – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS) gapped up before the market opened on Thursday . The stock had previously closed at $7.37, but opened at $7.79. Ondas shares last traded at $8.1540, with a volume of 14,529,717 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Ondas from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. 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 price target on the stock in a research note on Friday, November 14th. Lake Street Capital increased their price objective 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, Stifel Nicolaus set a $13.00 price objective on Ondas and gave the company a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ondas currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.43.

Ondas Price Performance

The company has a 50-day moving average of $7.66 and a 200 day moving average of $5.24. The company has a market cap of $3.04 billion, a PE ratio of -20.42 and a beta of 2.42.

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

Insiders Place Their Bets

In other Ondas news, Director Ron Stern sold 850,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of Ondas

Hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in Ondas in the 2nd quarter worth $705,000. Arkadios Wealth Advisors purchased a new stake in Ondas during the 2nd quarter valued at about $144,000. XTX Topco Ltd increased its holdings in shares of Ondas by 2,796.2% in the second quarter. XTX Topco Ltd now owns 853,568 shares of the company’s stock valued at $1,639,000 after purchasing an additional 824,096 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Ondas by 444.4% in the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock valued at $120,000 after purchasing an additional 91,732 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ondas in the second quarter worth about $151,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

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.