Ondas Sees Unusually High Options Volume (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw some unusual options trading on Friday. Investors purchased 5,984 call options on the stock. This is an increase of approximately 49% compared to the typical daily volume of 4,026 call options.

Institutional Trading of Ondas

Several hedge funds and other institutional investors have recently modified their holdings of the business. Penbrook Management LLC purchased a new stake in Ondas during the 4th quarter worth about $28,000. Wells Fargo & Company MN increased its position in shares of Ondas by 119.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after buying an additional 6,200 shares during the period. Two Sigma Investments LP bought a new stake in shares of Ondas during the fourth quarter valued at about $31,000. Staley Capital Advisers Inc. purchased a new stake in shares of Ondas in the fourth quarter worth about $32,000. Finally, XTX Topco Ltd bought a new position in shares of Ondas in the first quarter valued at approximately $32,000. Institutional investors own 37.73% of the company's stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital began coverage on Ondas in a research report on Monday, April 14th. They issued a "buy" rating and a $2.50 price target for the company.

Ondas Stock Down 3.4%

Ondas stock traded down $0.05 during midday trading on Tuesday, hitting $1.42. 31,129,838 shares of the stock were exchanged, compared to its average volume of 8,147,287. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. The business's 50-day moving average price is $0.89 and its 200-day moving average price is $1.27. The stock has a market capitalization of $195.15 million, a price-to-earnings ratio of -1.97 and a beta of 1.91.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The firm had revenue of $4.25 million for the quarter, compared to the consensus estimate of $4.94 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. On average, research analysts expect that Ondas will post -0.53 EPS for the current fiscal year.

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.