Ondas (NASDAQ:ONDS) Shares Climb 1.7% – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price traded up 1.7% during trading on Friday. The stock traded as high as $7.44 and last traded at $7.24. 42,594,550 shares traded hands during trading, a decline of 48% from the average daily volume of 81,399,531 shares. The stock had previously closed at $7.12.

Analyst Ratings Changes

A number of brokerages have weighed in on ONDS. Wall Street Zen cut Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Roth Capital restated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Weiss Ratings downgraded Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Ondas in a research report on Monday, September 14th. Finally, Oppenheimer raised their target price 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 analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.18.

Ondas Stock Performance

The firm’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $8.92. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -103.43 and a beta of 2.92.

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

Insider Activity at Ondas

In other Ondas news, CFO Neil Laird sold 4,952 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the sale, the chief financial officer owned 42,246 shares in the company, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the sale, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Ondas

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of Ondas by 9,274.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock valued at $33,832,000 after buying an additional 3,429,398 shares in the last quarter. RFG Advisory LLC increased its stake in Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after acquiring an additional 1,012,353 shares during the period. Bank of New York Mellon Corp bought a new stake in Ondas in the second quarter valued at about $13,158,000. Bank of America Corp DE raised its position in Ondas by 1,443.9% in the first quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock worth $12,700,000 after purchasing an additional 1,313,823 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD raised its position in Ondas by 63.0% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock worth $8,380,000 after purchasing an additional 393,133 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.