Ondas (NASDAQ:ONDS) Trading 5.8% Higher – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price was up 5.8% during mid-day trading on Thursday . The stock traded as high as $8.34 and last traded at $7.80. Approximately 67,137,674 shares traded hands during mid-day trading, an increase of 90% from the average daily volume of 35,316,246 shares. The stock had previously closed at $7.37.

Analysts Set New Price Targets

Several analysts recently issued reports on ONDS shares. Oppenheimer raised Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Friday, November 14th. Lake Street Capital increased 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. Stifel Nicolaus set a $13.00 target price on Ondas and gave the stock a “buy” rating in a report on Monday. Loop Capital set a $10.00 price target on Ondas in a report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a research note on Monday. Six research 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. According to MarketBeat, Ondas currently has an average rating of “Moderate Buy” and a consensus target price of $10.43.

Ondas Stock Performance

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -19.50 and a beta of 2.42. The business has a fifty day simple moving average of $7.66 and a 200 day simple moving average of $5.24.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.06) 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 firm had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $7.04 million. On average, equities research analysts anticipate that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Insider Activity

In related news, Director Ron Stern sold 850,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Ondas

Several hedge funds and other institutional investors have recently modified their holdings of the business. 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 raised its position in Ondas by 231.4% in the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after purchasing an additional 2,892 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in Ondas during the first quarter worth about $34,000. Penbrook Management LLC acquired a new stake in Ondas during the second quarter valued at approximately $35,000. Finally, Exencial Wealth Advisors LLC bought a new stake in shares of Ondas in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds 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.