Ondas (NASDAQ:ONDS) Stock Price Up 1.7% – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) shares shot up 1.7% during trading on Friday. The stock traded as high as $7.44 and last traded at $7.24. 42,594,550 shares were traded during mid-day trading, a decline of 48% from the average session volume of 81,399,531 shares. The stock had previously closed at $7.12.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ONDS shares. Wall Street Zen lowered Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Oppenheimer boosted their target price on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Roth Capital restated a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Finally, LADENBURG THALM/SH SH upped their target price on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a report on Monday, August 17th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Stock Up 1.7%

The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -103.43 and a beta of 2.92. The business has a 50-day moving average price of $8.00 and a 200-day moving average price of $8.92.

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

Insider Buying and Selling

In related news, CFO Neil Laird sold 4,952 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 42,246 shares in the company, valued at approximately $326,984.04. This represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the transaction, the director owned 261,836 shares in the company, valued at approximately $2,346,050.56. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is owned by insiders.

Institutional Trading of Ondas

A number of institutional investors have recently bought and sold shares of ONDS. BlueCrest Capital Management Ltd purchased a new stake in shares of Ondas during the 2nd quarter worth about $330,000. WINTON GROUP Ltd bought a new position in Ondas during the second quarter valued at approximately $2,294,000. RFG Advisory LLC raised its position in Ondas by 57.0% during the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after acquiring an additional 1,012,353 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Ondas by 47.4% in the second quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock valued at $358,000 after acquiring an additional 13,993 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD grew its position in Ondas by 63.0% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock worth $8,380,000 after acquiring an additional 393,133 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

About Ondas

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.