Investors Buy High Volume of Call Options on Ondas (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) was the target of some unusual options trading activity on Wednesday. Traders acquired 92,017 call options on the company. Thisisanincreaseofapproximately317% compared to the average daily volume of 22,071 call options.

Institutional Investors Weigh In On Ondas

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in Ondas by 119.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after buying an additional 6,200 shares during the period. Two Sigma Investments LP purchased a new position in shares of Ondas in the fourth quarter valued at $31,000. SBI Securities Co. Ltd. boosted its stake in shares of Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after purchasing an additional 9,904 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ondas in the fourth quarter valued at $46,000. Finally, Penbrook Management LLC purchased a new position in shares of Ondas in the second quarter valued at $35,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Ondas Stock Down 10.5%

ONDS opened at $3.59 on Wednesday. Ondas has a 52-week low of $0.57 and a 52-week high of $4.39. The company has a 50 day moving average of $2.31 and a two-hundred day moving average of $1.49. The company has a market cap of $786.85 million, a P/E ratio of -6.90 and a beta of 2.29.

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

Wall Street Analyst Weigh In

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

Ondas Company Profile

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.

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