Ondas (NASDAQ:ONDS) Shares Up 3% – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS) shot up 3% during trading on Thursday . The company traded as high as $9.34 and last traded at $9.19. 105,980,570 shares changed hands during mid-day trading, an increase of 216% from the average session volume of 33,499,305 shares. The stock had previously closed at $8.92.

Wall Street Analysts Forecast Growth

ONDS has been the subject of a number of recent research reports. Oppenheimer raised shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Friday, November 14th. Needham & Company LLC raised their target price on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Lake Street Capital boosted their target price on shares of Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Zacks Research lowered shares of Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Loop Capital set a $10.00 price objective on Ondas in a research note on Wednesday, November 26th. Five investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.67.

Ondas Trading Down 1.3%

The stock has a 50-day moving average price of $7.81 and a 200 day moving average price of $4.80. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -22.68 and a beta of 2.42.

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

Insiders Place Their Bets

In related news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total value of $6,723,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Ondas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hood River Capital Management LLC acquired a new stake in shares of Ondas during the 2nd quarter worth approximately $14,479,000. Vanguard Group Inc. grew its stake in shares of Ondas by 109.9% in the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock valued at $103,567,000 after buying an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Ondas in the 2nd quarter valued at about $11,123,000. Two Sigma Investments LP boosted its stake in shares of Ondas by 1,325.9% in the third quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after purchasing an additional 4,247,859 shares during the period. Finally, Cresset Asset Management LLC boosted its position in Ondas by 263.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after buying an additional 3,383,629 shares during the period. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Ondas Company Profile

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.