Ondas (NASDAQ:ONDS) Stock Price Up 2.6% – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price rose 2.6% during trading on Thursday . The company traded as high as $7.53 and last traded at $7.39. Approximately 66,795,701 shares were traded during mid-day trading, a decline of 19% from the average session volume of 82,551,016 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Ondas in a research note on Monday. Roth Capital reaffirmed a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Oppenheimer raised their target price on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Zacks Research raised shares of Ondas from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Stock Performance

The company has a market cap of $4.22 billion, a P/E ratio of -105.57 and a beta of 2.74. The stock has a 50 day moving average price of $7.96 and a 200 day moving average price of $9.12.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business 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, equities research analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.67% of the company’s stock.

Institutional Trading of Ondas

Several large investors have recently made changes to their positions in ONDS. NFSG Corp raised its stake in Ondas by 200.0% during the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock worth $27,000 after acquiring an additional 2,000 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Ondas in the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in Ondas by 5,373.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after acquiring an additional 3,063 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in Ondas in the first quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Ondas by 813.3% in the first 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 during 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 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.