Ondas Sees Unusually Large Options Volume (NASDAQ:ONDS)

Key Points

• Ondas Holdings Inc. experienced a surge in call options trading, with a volume of 92,017 call options, marking a 317% increase compared to the average daily volume.
• Institutional investors are actively engaging with Ondas, demonstrating significant stakes, including a 119.2% increase in Wells Fargo's holdings in the fourth quarter.
• Despite these developments, Ondas stock is currently down 10.5%, opening at $3.59 with a market cap of $786.85 million and a consensus price target of $4.67.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw unusually large options trading on Wednesday. Stock investors acquired 92,017 call options on the stock. Thisisanincreaseofapproximately317% compared to the average daily volume of 22,071 call options.

Institutional Investors Weigh In On Ondas

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after buying an additional 6,200 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Ondas during the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. raised its holdings in shares of Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after buying an additional 9,904 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Ondas during the fourth quarter valued at approximately $46,000. Finally, Penbrook Management LLC bought a new stake in shares of Ondas during the second quarter valued at approximately $35,000. 37.73% of the stock is currently owned by institutional investors.

Ondas Trading Up 18.2%

Ondas stock traded up $0.69 during midday trading on Friday, hitting $4.49. The stock had a trading volume of 65,262,413 shares, compared to its average volume of 41,629,424. The stock has a market cap of $984.12 million, a P/E ratio of -8.63 and a beta of 2.29. Ondas has a 12 month low of $0.57 and a 12 month high of $4.51. The business has a fifty day moving average price of $2.44 and a 200 day moving average price of $1.54.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The firm had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. On average, equities analysts anticipate that Ondas will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONDS shares. Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Lake Street Capital boosted their price target on Ondas from $2.50 to $5.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC assumed coverage on Ondas in a research note on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price target on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ondas has a consensus rating of "Buy" and a consensus target price of $4.67.

About Ondas

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.