Ondas (NASDAQ:ONDS) Shares Up 3.4% – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS) shares traded up 3.4% during mid-day trading on Thursday. The stock traded as high as $6.37 and last traded at $6.35. Approximately 73,617,311 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 80,384,914 shares. The stock had previously closed at $6.14.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONDS shares. LADENBURG THALM/SH SH upped their price target on shares of Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research report on Monday, August 17th. Roth Capital reiterated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Citigroup initiated coverage on Ondas in a report on Monday, October 5th. They set a “market outperform” rating for the company. Finally, Weiss Ratings lowered Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ondas currently has an average rating of “Moderate Buy” and an average target price of $16.89.

Ondas Price Performance

The business’s 50-day simple moving average is $7.82 and its two-hundred day simple moving average is $8.69. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -90.71 and a beta of 2.92.

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

Insider Activity at Ondas

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

Institutional Investors Weigh In On Ondas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NFSG Corp boosted its stake in Ondas by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after acquiring an additional 2,000 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Ondas in the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in shares of Ondas by 5,373.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after purchasing an additional 3,063 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Ondas in the 1st quarter valued at about $35,000. Finally, International Assets Investment Management LLC raised its stake in shares of Ondas by 813.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,941 shares of the company’s stock valued at $44,000 after purchasing an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors 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 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.