Ondas Sees Unusually Large Options Volume (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 17,891 call options on the stock. This is an increase of 137% compared to the average daily volume of 7,547 call options.

Hedge Funds Weigh In On Ondas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Heights Capital Management Inc. increased its position in shares of Ondas by 397.6% during the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company's stock valued at $12,317,000 after buying an additional 3,844,401 shares during the period. Cresset Asset Management LLC purchased a new position in shares of Ondas during the fourth quarter valued at about $3,288,000. Geode Capital Management LLC grew its holdings in Ondas by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 726,165 shares of the company's stock worth $1,859,000 after purchasing an additional 103,570 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Ondas by 5.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 645,510 shares of the company's stock worth $691,000 after purchasing an additional 31,219 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Ondas in the fourth quarter worth about $1,050,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Ondas Trading Up 4.6%

Shares of NASDAQ ONDS traded up $0.08 during midday trading on Friday, hitting $1.83. 23,924,112 shares of the company traded hands, compared to its average volume of 5,965,798. Ondas has a 12-month low of $0.54 and a 12-month high of $3.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.86. The stock has a 50-day moving average price of $1.16 and a 200 day moving average price of $1.37. The firm has a market cap of $328.59 million, a P/E ratio of -3.16 and a beta of 2.13.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Ondas had a negative net margin of 412.92% and a negative return on equity of 232.07%. The company had revenue of $4.25 million for the quarter, compared to analysts' expectations of $4.94 million. As a group, analysts expect that Ondas will post -0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital assumed coverage on shares of Ondas in a research note on Monday, April 14th. They set a "buy" rating and a $2.50 price objective for the company.

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.