Ondas (NASDAQ:ONDS) Stock Price Up 2.8% – Still a Buy?

Ondas Holdings Inc. (NASDAQ:ONDS) shares traded up 2.8% during trading on Wednesday. The stock traded as high as $6.37 and last traded at $6.27. 41,099,339 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 79,470,188 shares. The stock had previously closed at $6.10.

Analyst Ratings Changes

ONDS has been the subject of a number of recent analyst reports. Roth Capital restated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Weiss Ratings cut Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. LADENBURG THALM/SH SH increased their target price on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Oppenheimer raised their target price on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Ten equities research 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 data from MarketBeat.com, Ondas has an average rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Stock Up 3.9%

The stock’s 50-day moving average price is $7.44 and its 200 day moving average price is $8.57. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -89.50 and a beta of 2.92.

Ondas (NASDAQ:ONDS) last released its earnings results 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 net margin of 93.55% and a negative return on equity of 14.20%. The company had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. On average, research analysts predict that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Activity at Ondas

In related news, Director Richard M. Cohen sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was 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 in the company, valued at approximately $2,346,050.56. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the transaction, the chief financial officer owned 42,246 shares of the company’s stock, valued at $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ondas

A number of hedge funds have recently made changes to their positions in the business. Sowell Financial Services LLC lifted its holdings in shares of Ondas by 47.1% during the 3rd quarter. Sowell Financial Services LLC now owns 21,366 shares of the company’s stock worth $157,000 after acquiring an additional 6,844 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Ondas by 5.5% in the 3rd quarter. Wedbush Securities Inc. now owns 36,250 shares of the company’s stock valued at $266,000 after purchasing an additional 1,900 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Ondas by 935.9% during the third quarter. Sterling Capital Management LLC now owns 17,755 shares of the company’s stock worth $130,000 after buying an additional 16,041 shares in the last quarter. T3 Companies LLC bought a new position in Ondas in the 3rd quarter valued at $164,000. Finally, SBI Securities Co. Ltd. lifted its position in Ondas by 8.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 212,883 shares of the company’s stock worth $1,560,000 after buying an additional 15,938 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government, and critical-infrastructure applications. Its businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.