Ondas (NASDAQ:ONDS) Shares Climb 8% – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price rose 8% on Tuesday. The company traded as high as $6.69 and last traded at $6.65. 43,996,348 shares were traded during mid-day trading, a decline of 44% from the average session volume of 78,677,523 shares. The stock had previously closed at $6.16.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup reiterated a “market outperform” rating on shares of Ondas in a research report on Monday, October 19th. LADENBURG THALM/SH SH upped their price target on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Ondas in a report on Monday, September 14th. Oppenheimer lifted their price objective on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Trading Down 0.4%

The firm’s fifty day moving average price is $7.26 and its 200-day moving average price is $9.14. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -97.81 and a beta of 2.92.

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 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 business had revenue of $83.77 million during the quarter, compared to analyst estimates of $67.97 million. As a group, research analysts anticipate that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Insider Transactions at Ondas

In other Ondas news, Director Richard Cohen sold 7,500 shares of the company’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 sale, the director owned 261,836 shares in the company, valued at $2,346,050.56. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil 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 sale, 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 SEC filing for this sale provides additional information. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Ondas

Hedge funds have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd bought a new position in Ondas in the 3rd quarter valued at approximately $26,000. ProShare Advisors LLC grew its stake in shares of Ondas by 5.5% during the third quarter. ProShare Advisors LLC now owns 69,467 shares of the company’s stock worth $509,000 after buying an additional 3,635 shares during the last quarter. LJI Wealth Management LLC acquired a new position in shares of Ondas during the third quarter worth $84,000. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Ondas by 7,185.7% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 3,521 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Ondas by 17.2% during the third quarter. Oppenheimer & Co. Inc. now owns 1,156,205 shares of the company’s stock worth $8,475,000 after buying an additional 170,075 shares in the last quarter. 37.73% of the stock is owned by institutional investors.

About Ondas

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.