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

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. HC Wainwright started coverage on Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 price objective for the company. Lake Street Capital boosted their price target on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Loop Capital set a $10.00 price target on Ondas in a research report on Wednesday, November 26th. Needham & Company LLC raised their price objective on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research lowered shares of Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.67.

Ondas Trading Up 6.5%

The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -20.18 and a beta of 2.42. The stock has a 50-day moving average of $7.72 and a 200-day moving average of $4.63.

Ondas (NASDAQ:ONDS) last issued 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 company had revenue of $10.10 million during the quarter, compared to analyst estimates of $7.04 million. Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%. As a group, research analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Ondas

In related news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ondas

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc boosted its position in shares of Ondas by 231.4% during the third 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 boosted its position in Ondas by 54.0% during the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock worth $119,000 after acquiring an additional 5,400 shares during the period. Wexford Capital LP bought a new position in shares of Ondas in the third quarter worth $67,000. SBI Securities Co. Ltd. increased its holdings in shares of Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after purchasing an additional 9,904 shares during the period. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of Ondas by 61.5% during the third 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. 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.