Ondas (NASDAQ:ONDS) Stock Price Up 4.6% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price shot up 4.6% during mid-day trading on Tuesday . The company traded as high as $7.75 and last traded at $7.72. 65,327,047 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 82,203,867 shares. The stock had previously closed at $7.38.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research raised Ondas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. LADENBURG THALM/SH SH lifted their price target on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a report on Monday, August 17th. Roth Capital reiterated a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Finally, Oppenheimer increased their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.18.

Ondas Price Performance

The company has a fifty day moving average price of $7.97 and a two-hundred day moving average price of $9.06. The company has a market capitalization of $4.41 billion, a P/E ratio of -110.29 and a beta of 2.74.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The business had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. As a group, sell-side analysts forecast that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.

Insider Activity

In other news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares of the company’s stock, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.67% of the company’s stock.

Institutional Trading of Ondas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NFSG Corp lifted its holdings in Ondas by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $27,000 after buying an additional 2,000 shares during the period. Western Wealth Management LLC bought a new position in shares of Ondas during the first quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ondas by 5,373.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after acquiring an additional 3,063 shares during the period. AdvisorNet Financial Inc bought a new stake in Ondas in the first quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC boosted its holdings in Ondas by 813.3% in the first quarter. International Assets Investment Management LLC now owns 4,941 shares of the company’s stock valued at $44,000 after acquiring an additional 4,400 shares during the last quarter. 37.73% of the stock is currently owned by institutional investors and hedge funds.

About Ondas

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.