Ondas (NASDAQ:ONDS) Stock Price Up 2.3% – Time to Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price was up 2.3% on Tuesday . The company traded as high as $9.86 and last traded at $9.23. Approximately 83,230,765 shares traded hands during trading, an increase of 144% from the average daily volume of 34,147,422 shares. The stock had previously closed at $9.02.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ondas in a research note on Monday, December 1st. Zacks Research lowered Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. HC Wainwright assumed coverage on Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 target price on the stock. Oppenheimer raised Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Friday, November 14th. Finally, Loop Capital set a $10.00 price target on shares of Ondas in a report on Wednesday, November 26th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Ondas Price Performance

The company has a 50 day moving average of $7.83 and a two-hundred day moving average of $4.91. The company has a market capitalization of $3.40 billion, a PE ratio of -23.08 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last announced its earnings results on Thursday, November 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. On average, equities analysts anticipate that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling at Ondas

In other Ondas news, Director Ron Stern sold 850,000 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONDS. Quadrature Capital Ltd bought a new position in Ondas in the 2nd quarter valued at approximately $705,000. Arkadios Wealth Advisors purchased a new position in shares of Ondas in the second quarter worth $144,000. XTX Topco Ltd lifted its holdings in shares of Ondas by 2,796.2% during the second quarter. XTX Topco Ltd now owns 853,568 shares of the company’s stock valued at $1,639,000 after purchasing an additional 824,096 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ondas by 444.4% during the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock valued at $120,000 after buying an additional 91,732 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Ondas in the 2nd quarter worth about $151,000. 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.