Ondas (NASDAQ:ONDS) Shares Up 3.2% – Time to Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price traded up 3.2% on Wednesday. The stock traded as high as $6.88 and last traded at $6.86. 44,251,669 shares changed hands during trading, a decline of 44% from the average daily volume of 78,532,703 shares. The stock had previously closed at $6.65.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ONDS. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Ondas in a research report on Monday, September 14th. 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. Finally, Citigroup reiterated a “market outperform” rating on shares of Ondas in a research report on Monday, October 19th. Ten equities research 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. Based on data from MarketBeat, Ondas currently has an average rating of “Moderate Buy” and an average target price of $16.89.

Ondas Stock Down 8.1%

The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -90.29 and a beta of 2.92. The company’s 50-day moving average price is $7.18 and its 200-day moving average price is $9.07.

Ondas (NASDAQ:ONDS) last released its quarterly 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 negative return on equity of 14.20% and a net margin of 93.55%. The company had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. Analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Neil J. Laird sold 4,952 shares of the firm’s 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 completion of the sale, the chief financial officer directly owned 42,246 shares of the company’s stock, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard M. Cohen sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction 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. The trade was a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. grew its stake in Ondas by 7,185.7% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 3,521 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Ondas in the 3rd quarter valued at about $26,000. NFSG Corp boosted its stake in shares of Ondas by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after buying an additional 2,000 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 valued at $28,000 after buying an additional 3,063 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of Ondas during the first 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.