Ondas (NASDAQ:ONDS) Shares Climb 3% – What’s Next?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) shot up 3% on Friday. The stock traded as high as $6.35 and last traded at $6.20. Approximately 40,735,340 shares were traded during mid-day trading, a decline of 48% from the average session volume of 79,087,602 shares. The stock had previously closed at $6.02.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Ondas in a report on Monday, October 19th. Citizens Jmp started coverage on Ondas in a research note on Monday, October 5th. They issued an “outperform” rating and a $14.00 price target for the company. Roth Capital restated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Oppenheimer raised their price objective on shares of 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 price objective on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.89.

Ondas Price Performance

The stock has a market capitalization of $3.61 billion, a P/E ratio of -88.57 and a beta of 2.92. The stock’s fifty day moving average is $7.38 and its 200-day moving average is $8.55.

Ondas (NASDAQ:ONDS) last posted its earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The company had revenue of $83.77 million for the quarter, compared to the consensus estimate of $67.97 million. On average, research analysts expect that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Transactions at Ondas

In other news, CFO Neil Laird sold 4,952 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the transaction, the chief financial officer owned 42,246 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, Director Richard Cohen sold 7,500 shares of the firm’s 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 transaction, the director directly owned 261,836 shares in the company, valued at $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. Corporate insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Ondas

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