Ondas (NASDAQ:ONDS) Shares Up 2.2% - Here's What Happened

Key Points

• Ondas shares rose 2.2% to $9.31 in Monday trading, with 31.1 million shares changing hands—64% below the average daily volume.
• Analyst views remain mixed, but the consensus rating is “Moderate Buy” with an average price target of $16.75, compared with the current share price.
• Insiders sold approximately 2.4 million shares worth $32.1 million over the past 90 days, including a large CEO sale partly attributed to tax-withholding obligations; institutional investors own 37.73% of the company.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s stock price rose 2.2% during trading on Monday . The stock traded as high as $9.54 and last traded at $9.31. 31,085,289 shares changed hands during trading, a decline of 64% from the average session volume of 85,315,336 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ONDS shares. Zacks Research upgraded Ondas from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. LADENBURG THALM/SH SH raised Ondas to a "strong-buy" rating in a report on Wednesday, May 6th. Needham & Company LLC decreased their target price on Ondas from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings lowered Ondas from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen cut Ondas from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.75.

Ondas Stock Up 2.2%

The firm's fifty day simple moving average is $8.55 and its 200-day simple moving average is $9.61. The company has a market cap of $5.31 billion, a PE ratio of 232.75 and a beta of 2.72.

Insider Buying and Selling

In related news, Director Randy Seidl sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.83, for a total value of $98,300.00. Following the sale, the director owned 295,504 shares of the company's stock, valued at approximately $2,904,804.32. This represents a 3.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric A. Brock sold 2,378,245 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $13.43, for a total value of $31,939,830.35. Following the completion of the transaction, the chief executive officer directly owned 3,583,010 shares of the company's stock, valued at approximately $48,119,824.30. This trade represents a 39.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,395,745 shares of company stock worth $32,109,380 in the last ninety days. Insiders own 1.67% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Buckland Partners Management Co LLC purchased a new position in Ondas in the 2nd quarter valued at about $478,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Ondas during the second quarter worth about $668,000. Bank of New York Mellon Corp purchased a new stake in shares of Ondas during the second quarter worth about $13,158,000. Heck Capital Advisors LLC acquired a new position in shares of Ondas in the second quarter valued at approximately $90,000. Finally, Handelsbanken Fonder AB raised its position in shares of Ondas by 50.0% in the second quarter. Handelsbanken Fonder AB now owns 180,100 shares of the company's stock valued at $1,484,000 after buying an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 37.73% of the company's stock.

About Ondas

Ondas Holdings, Inc NASDAQ: ONDS develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.

The company's Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source