Ondas (NASDAQ:ONDS) Shares Up 11.8% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price traded up 11.8% on Monday. The company traded as high as $6.13 and last traded at $5.97. 47,537,849 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 77,380,750 shares. The stock had previously closed at $5.34.

More Ondas News

Investors following ONDS have been watching these news items:

• Positive Sentiment: Ondas received a purchase order for next-generation tactical attack drones, described in coverage as “Digital Bat” drones. The order adds near-term commercial traction, while the company says a planned ARAN Defense acquisition could help it manufacture thousands of systems. Ondas Receives Purchase Order for Next-Generation Tactical Attack Drones
• Positive Sentiment: Ondas plans to expand U.S. production of its ULTRA aircraft, targeting output of 10 units per month by 2028. The plan, supported by the Stemme buyout and new U.S. facilities, aims to address rising demand for intelligence, surveillance and reconnaissance aircraft. The production goal is forward-looking and will depend on successful execution. Ondas Plans U.S. Manufacturing Push to Scale ULTRA Aircraft Output
• Neutral Sentiment: A report cited a $16.89 consensus price target for ONDS. Analyst targets can signal expectations but are not a guarantee of future performance. Ondas Holdings Stock Has Consensus Target Price of $16.89

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. The Goldman Sachs Group upgraded shares of Ondas to a “buy” rating in a research note on Monday, November 2nd. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Ondas in a report on Monday, September 14th. Ladenburg Thalmann & Co. Inc. boosted their price target on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Citizens Jmp initiated coverage on shares of Ondas in a research note on Monday, October 5th. They issued an “outperform” rating and a $14.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.89.

Ondas Price Performance

The company has a 50-day moving average of $6.79 and a two-hundred day moving average of $8.81. The company has a market capitalization of $3.34 billion, a PE ratio of -81.86 and a beta of 3.10.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The company had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. Ondas had a negative return on equity of 14.20% and a net margin of 93.55%. As a group, research analysts anticipate that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Activity at Ondas

In other news, CFO Neil J. Laird sold 4,952 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the sale, the chief financial officer directly owned 42,246 shares in the company, valued at approximately $326,984.04. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the sale, the director directly owned 261,836 shares of the company’s stock, valued at $2,346,050.56. This represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.67% of the company’s stock.

Institutional Trading of Ondas

Several large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new stake in Ondas during the 3rd quarter valued at approximately $29,000. one8zero8 LLC increased its stake in shares of Ondas by 31.2% during the third quarter. one8zero8 LLC now owns 676,950 shares of the company’s stock worth $4,962,000 after purchasing an additional 160,850 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Ondas by 7.1% during the third quarter. Private Advisor Group LLC now owns 90,212 shares of the company’s stock valued at $661,000 after acquiring an additional 5,957 shares during the last quarter. Voya Investment Management LLC boosted its stake in Ondas by 183.7% during the 3rd quarter. Voya Investment Management LLC now owns 6,612,440 shares of the company’s stock worth $48,469,000 after purchasing an additional 4,281,842 shares during the last quarter. Finally, Cibc World Market Inc. grew its stake in Ondas by 27.4% during the 3rd quarter. Cibc World Market Inc. now owns 213,870 shares of the company’s stock valued at $1,568,000 after acquiring an additional 46,026 shares in the last quarter. Hedge funds and other institutional investors own 37.73% of the company’s stock.

About Ondas

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems. Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks. Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.