Ondas (NASDAQ:ONDS) Trading Up 11.5% - Here's Why

Key Points

• Ondas shares rose 11.5% to $7.58 during mid-day trading, with approximately 55.1 million shares changing hands. The stock has a $4.32 billion market capitalization and trades at a P/E ratio of 189.5.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $16.75, despite Needham lowering its target from $23 to $19.
• Institutional investors and hedge funds own 37.73% of Ondas, while insiders have sold approximately 2.4 million shares worth $32.1 million over the past quarter.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares shot up 11.5% during mid-day trading on Thursday . The company traded as high as $7.65 and last traded at $7.58. 55,083,647 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 85,798,070 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ONDS shares. Needham & Company LLC dropped their price target on shares of Ondas from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. LADENBURG THALM/SH SH upgraded shares of Ondas to a "strong-buy" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ondas from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 8th. Wall Street Zen cut Ondas from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Finally, Zacks Research upgraded Ondas from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.75.

Ondas Stock Up 11.5%

The stock has a market capitalization of $4.32 billion, a P/E ratio of 189.50 and a beta of 2.69. The firm's 50-day simple moving average is $8.86 and its 200 day simple moving average is $9.84.

Insider Transactions at Ondas

In related news, Director Richard M. Cohen sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.50, for a total value of $71,250.00. Following the sale, the director directly owned 264,853 shares in the company, valued at $2,516,103.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Randy Seidl sold 10,000 shares of Ondas stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.83, for a total transaction of $98,300.00. Following the completion of the transaction, the director owned 295,504 shares in the company, valued at approximately $2,904,804.32. This trade represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,395,745 shares of company stock valued at $32,109,380 in the last quarter. Insiders own 1.67% of the company's stock.

Hedge Funds Weigh In On Ondas

A number of hedge funds have recently modified their holdings of ONDS. Goldman Sachs Group Inc. lifted 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 purchasing an additional 91,732 shares during the last quarter. Geode Capital Management LLC increased its stake in Ondas by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company's stock worth $2,583,000 after purchasing an additional 490,239 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Ondas in the 2nd quarter worth about $152,000. Sei Investments Co. purchased a new position in Ondas in the 2nd quarter worth about $3,086,000. Finally, HRT Financial LP acquired a new stake in Ondas during the 2nd quarter worth about $2,244,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Ondas Company Profile

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.