Ondas (NASDAQ:ONDS) Stock Price Up 2.6% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS) shot up 2.6% during mid-day trading on Thursday . The stock traded as high as $7.53 and last traded at $7.39. 66,795,701 shares traded hands during trading, a decline of 19% from the average session volume of 82,551,016 shares. The stock had previously closed at $7.20.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ONDS shares. LADENBURG THALM/SH SH lifted their price objective on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Ondas in a report on Monday, September 14th. Zacks Research raised Ondas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wall Street Zen lowered Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Eight investment analysts have rated the stock with a Buy rating, one has issued 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 $17.18.

Ondas Stock Performance

The business has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $9.09. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -105.57 and a beta of 2.74.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings data 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 negative return on equity of 14.20% and a net margin of 93.55%.The firm had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. On average, equities analysts anticipate that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Ondas

In related news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is owned by corporate insiders.

Institutional Trading of Ondas

A number of hedge funds have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in shares of Ondas in the second quarter worth $330,000. WINTON GROUP Ltd purchased a new stake in Ondas in the second quarter worth about $2,294,000. RFG Advisory LLC boosted its holdings in Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock worth $22,967,000 after acquiring an additional 1,012,353 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Ondas by 47.4% during the second quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock valued at $358,000 after acquiring an additional 13,993 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its holdings in shares of Ondas by 63.0% during the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock valued at $8,380,000 after purchasing an additional 393,133 shares in the last quarter. 37.73% of the stock is owned by institutional investors.

Ondas Company Profile

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.