Investors Purchase High Volume of Ondas Call Options (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) saw some unusual options trading on Tuesday. Stock traders bought 109,307 call options on the stock. This is an increase of 56% compared to the average daily volume of 69,872 call options.

Ondas Trading Down 8.6%

Shares of Ondas stock opened at $9.51 on Thursday. The company has a market capitalization of $3.32 billion, a PE ratio of -18.29 and a beta of 2.46. Ondas has a 12 month low of $0.57 and a 12 month high of $11.70. The stock’s fifty day simple moving average is $6.49 and its 200 day simple moving average is $3.16.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The company had revenue of $6.27 million during the quarter, compared to the consensus estimate of $4.97 million. Analysts predict that Ondas will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONDS has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. HC Wainwright started coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price target for the company. Needham & Company LLC assumed coverage on shares of Ondas in a research note on Tuesday, August 19th. They set a “buy” rating and a $5.00 price target for the company. Wall Street Zen raised shares of Ondas from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Lake Street Capital lifted their target price on shares of Ondas from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ONDS. SBI Securities Co. Ltd. boosted its position in shares of 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 during the period. XTX Topco Ltd bought a new stake in Ondas in the 1st quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. bought a new stake in Ondas in the 1st quarter valued at approximately $34,000. Penbrook Management LLC bought a new stake in Ondas in the 2nd quarter valued at approximately $35,000. Finally, Exencial Wealth Advisors LLC acquired a new stake in shares of Ondas in the second quarter valued at approximately $36,000. 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.