Ondas (NASDAQ:ONDS) Trading 2.3% Higher – Here’s What Happened

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) rose 2.3% during trading on Tuesday . The company traded as high as $9.86 and last traded at $9.23. Approximately 83,230,765 shares changed hands during mid-day 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

A number of research analysts recently weighed in on the stock. Loop Capital set a $10.00 price objective on shares of Ondas in a research report on Wednesday, November 26th. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Friday, November 14th. HC Wainwright began coverage on Ondas in a research note on Monday, October 6th. They issued a “buy” rating and a $12.00 price target on the stock. Lake Street Capital lifted their price objective on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Zacks Research downgraded Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Ondas Stock Up 2.3%

The company has a fifty day simple moving average of $7.83 and a 200-day simple moving average of $4.91. The firm has a market cap of $3.40 billion, a P/E ratio of -23.08 and a beta of 2.42.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. As a group, research analysts forecast 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 company’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 value of $6,723,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Ondas by 231.4% in the 3rd quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock worth $32,000 after buying an additional 2,892 shares during the period. RiverGlades Family Offices LLC lifted its position in shares of Ondas by 54.0% in the third quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after acquiring an additional 5,400 shares in the last quarter. Wexford Capital LP bought a new position in shares of Ondas in the third quarter worth about $67,000. SBI Securities Co. Ltd. boosted its stake in shares of Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after acquiring an additional 9,904 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its stake in Ondas by 61.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 37.73% of the company’s stock.

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.