Ondas (NASDAQ:ONDS) Trading Up 6.5% – Still a Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price rose 6.5% during trading on Tuesday . The stock traded as high as $8.55 and last traded at $8.07. Approximately 89,596,794 shares traded hands during trading, an increase of 174% from the average daily volume of 32,712,850 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

ONDS has been the topic of a number of research reports. HC Wainwright initiated coverage on Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Research lowered shares of Ondas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ondas in a research report on Monday. Finally, Loop Capital set a $10.00 target price on shares of Ondas in a research note on Wednesday, November 26th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.67.

Ondas Price Performance

The company has a market cap of $2.97 billion, a price-to-earnings ratio of -20.18 and a beta of 2.42. The company’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $4.63.

Ondas (NASDAQ:ONDS) last announced its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $10.10 million during 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%. Equities analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ron Stern sold 850,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total transaction of $6,723,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ondas

A number of hedge funds have recently bought and sold shares of ONDS. Hood River Capital Management LLC purchased a new stake in Ondas during the 2nd quarter worth approximately $14,479,000. Vanguard Group Inc. grew its position in shares of Ondas by 109.9% during the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock worth $103,567,000 after buying an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. bought a new stake in shares of Ondas in the second quarter worth $11,123,000. Two Sigma Investments LP raised its holdings in 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 acquiring an additional 4,247,859 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after acquiring an additional 3,383,629 shares during the last quarter. Institutional investors and hedge funds 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.