Ondas (NASDAQ:ONDS) Stock Jumps 11.1% – Still a Buy?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) rose 11.1% during trading on Friday. The company traded as high as $5.08 and last traded at $5.0220. Approximately 14,252,840 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 77,359,930 shares. The stock had previously closed at $4.52.

Analyst Ratings Changes

A number of research analysts have issued reports on ONDS shares. The Goldman Sachs Group upgraded shares of Ondas to a “buy” rating in a research note on Monday. Roth Capital reiterated a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Oppenheimer upped their target price on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, LADENBURG THALM/SH SH raised their target price on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research note on Monday, August 17th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Stock Performance

The company has a market cap of $2.98 billion, a price-to-earnings ratio of -74.33 and a beta of 3.10. The company’s fifty day moving average is $6.94 and its two-hundred day moving average is $8.92.

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

Insider Activity

In other Ondas news, Director Richard Cohen sold 7,500 shares of Ondas stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares in the company, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil Laird sold 4,952 shares of Ondas stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following 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 position. The disclosure for this sale is available in the SEC filing. 1.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ONDS. Pinnacle Wealth Planning Services Inc. grew its position in shares of Ondas by 7,185.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 3,521 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Ondas during the third quarter worth about $26,000. NFSG Corp raised its position in shares of Ondas by 200.0% during the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Ondas by 5,373.7% during 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. Finally, Western Wealth Management LLC acquired a new position in shares of Ondas during the 1st quarter worth about $28,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

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.