Ondas (NASDAQ:ONDS) Shares Up 7.5% - Here's What Happened

Key Points

• Shares of Ondas (NASDAQ:ONDS) jumped 7.5% to about $8.15 (intraday high $8.25) on Tuesday, with roughly 40.4 million shares traded—about 24% above average volume.
• Analysts hold a consensus Moderate Buy rating (five Buys, one Hold, one Sell) with an average price target of $9.67, and several firms recently raised targets to $10–$12.
• Ondas reported quarterly EPS of -$0.06 (missing estimates) but revenue of $10.1M beat expectations; the company shows negative net margins and ROE, and Director Ron Stern sold 850,000 shares for ~$6.72M.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) were up 7.5% during trading on Tuesday . The stock traded as high as $8.25 and last traded at $8.1460. Approximately 40,386,204 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 32,456,887 shares. The stock had previously closed at $7.58.

Analysts Set New Price Targets

Several research firms have issued reports on ONDS. Weiss Ratings reissued a "sell (d-)" rating on shares of Ondas in a research report on Tuesday, November 25th. HC Wainwright started coverage on Ondas in a report on Monday, October 6th. They issued a "buy" rating and a $12.00 price target for the company. Lake Street Capital increased their price objective on Ondas from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, November 26th. Zacks Research lowered Ondas from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. Finally, Needham & Company LLC upped their target price on Ondas from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 13th. Five equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.67.

Ondas Price Performance

The company has a market cap of $3.13 billion, a PE ratio of -21.19 and a beta of 2.42. The business has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $4.63.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%.The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. On average, equities research analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling at Ondas

In other news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently bought and sold shares of ONDS. Arkadios Wealth Advisors purchased a new position in Ondas during the 2nd quarter worth $144,000. Quadrature Capital Ltd purchased a new stake in shares of Ondas during the second quarter worth about $705,000. XTX Topco Ltd increased its holdings in shares of Ondas by 2,796.2% during the second quarter. XTX Topco Ltd now owns 853,568 shares of the company's stock valued at $1,639,000 after acquiring an additional 824,096 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ondas by 444.4% during the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company's stock valued at $120,000 after acquiring an additional 91,732 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ondas in the 2nd quarter valued at approximately $151,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

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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