Ondas (NASDAQ:ONDS) Shares Up 3% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS) shares rose 3% on Thursday . The company traded as high as $9.34 and last traded at $9.19. Approximately 105,980,570 shares were traded during mid-day trading, an increase of 216% from the average daily volume of 33,499,305 shares. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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. Lake Street Capital upped their price target on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Zacks Research cut Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ondas in a research report on Monday. Five 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’s stock. According to MarketBeat, Ondas presently has an average rating of “Moderate Buy” and a consensus price target of $9.67.

Ondas Stock Performance

The stock has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $4.71. The firm has a market cap of $3.39 billion, a P/E ratio of -22.98 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last announced 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 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 the consensus estimate of $7.04 million. Research analysts predict that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Insider Activity

In other news, Director Ron Stern sold 850,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ondas

A number of large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Ondas by 231.4% during the 3rd quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock valued at $32,000 after buying an additional 2,892 shares during the last quarter. RiverGlades Family Offices LLC boosted its stake in shares of Ondas by 54.0% in the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock worth $119,000 after buying an additional 5,400 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Ondas in the third quarter worth $67,000. SBI Securities Co. Ltd. increased its position in Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after acquiring an additional 9,904 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its holdings in Ondas by 61.5% in the third quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after acquiring an additional 10,000 shares during the period. 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.