Ondas Target of Unusually High Options Trading (NASDAQ:ONDS)

Key Points

• Ondas Holdings Inc. experienced unusually high options trading, with investors purchasing 65,429 call options, a 24% increase over the average volume.
• The company's stock rose by 9.5%, trading at $8.39 with a trading volume significantly above its average.
• Recent earnings showed a revenue of $6.27 million, exceeding expectations, but the company still reported a negative net margin of 300.11%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw unusually large options trading activity on Monday. Stock investors purchased 65,429 call options on the stock. This is an increase of 24% compared to the average volume of 52,884 call options.

Ondas Trading Up 9.5%

Shares of NASDAQ:ONDS traded up $0.73 during midday trading on Monday, hitting $8.39. The stock had a trading volume of 31,522,061 shares, compared to its average volume of 19,808,381. The company has a market capitalization of $2.69 billion, a PE ratio of -16.16 and a beta of 2.40. The stock has a 50 day moving average price of $4.58 and a two-hundred day moving average price of $2.39. Ondas has a 1 year low of $0.57 and a 1 year high of $8.71.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The business had revenue of $6.27 million for the quarter, compared to the consensus estimate of $4.97 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. As a group, equities analysts expect that Ondas will post -0.53 EPS for the current year.

Institutional Trading of Ondas

Several hedge funds and other institutional investors have recently made changes to their positions in ONDS. SBI Securities Co. Ltd. raised its position in Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock worth $31,000 after acquiring an additional 9,904 shares during the last quarter. Two Sigma Investments LP acquired a new position in Ondas during the fourth quarter worth about $31,000. Millennium Management LLC raised its position in Ondas by 150.0% during the fourth quarter. Millennium Management LLC now owns 28,366 shares of the company's stock worth $73,000 after acquiring an additional 17,021 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Ondas during the fourth quarter worth about $46,000. Finally, Penbrook Management LLC acquired a new position in Ondas during the second quarter worth about $35,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ONDS shares. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Lake Street Capital raised their price objective on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Needham & Company LLC started coverage on shares of Ondas in a research report on Tuesday, August 19th. They set a "buy" rating and a $5.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $5.67.

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.

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