Ondas (NASDAQ:ONDS) Stock Price Up 4.6% – Here’s What Happened

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price was up 4.6% during mid-day trading on Tuesday . The stock traded as high as $7.75 and last traded at $7.72. 65,327,047 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 82,203,867 shares. The stock had previously closed at $7.38.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ONDS. LADENBURG THALM/SH SH boosted their price target on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research report on Monday, August 17th. Wall Street Zen cut Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Roth Capital reissued a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Finally, Oppenheimer increased their price target on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ondas currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Stock Up 4.6%

The firm has a 50 day moving average of $7.97 and a 200-day moving average of $9.06. The firm has a market capitalization of $4.41 billion, a P/E ratio of -110.29 and a beta of 2.74.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.19) EPS 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 the consensus estimate of $67.97 million. Ondas had a negative return on equity of 14.20% and a net margin of 93.55%. As a group, research analysts expect that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling

In other Ondas news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the transaction, the director directly owned 261,836 shares of the company’s stock, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Ondas

Large investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in Ondas during the second quarter valued at approximately $330,000. WINTON GROUP Ltd acquired a new stake in shares of Ondas in the 2nd quarter valued at $2,294,000. RFG Advisory LLC boosted its holdings in shares of Ondas by 57.0% in the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after purchasing an additional 1,012,353 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Ondas by 47.4% in the 2nd quarter. NewEdge Advisors LLC now owns 43,484 shares of the company’s stock valued at $358,000 after purchasing an additional 13,993 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in shares of Ondas by 63.0% in the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock valued at $8,380,000 after purchasing an additional 393,133 shares during the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.