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

Key Points

• Ondas Holdings Inc. (NASDAQ:ONDS) experienced a significant increase in call options trading, with an acquisition of 109,307 call options, marking a 56% rise compared to typical trading volume.
• An array of brokerages has provided mixed ratings on Ondas, with Weiss Ratings maintaining a "sell" rating, while HC Wainwright began coverage with a "buy" rating and a price target of $12.00.
• Ondas reported earnings of ($0.08) EPS for the last quarter, exceeding estimates, with revenue of $6.27 million, surpassing analyst expectations of $4.97 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw some unusual options trading on Tuesday. Traders acquired 109,307 call options on the stock. This represents an increase of 56% compared to the typical daily volume of 69,872 call options.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ONDS. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Ondas in a research report on Wednesday, October 8th. HC Wainwright began coverage on shares of Ondas in a report on Monday, October 6th. They set a "buy" rating and a $12.00 price objective for the company. Lake Street Capital lifted their target price on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Needham & Company LLC began coverage on Ondas in a research report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ondas currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

Ondas Stock Performance

NASDAQ ONDS opened at $10.81 on Tuesday. Ondas has a twelve month low of $0.57 and a twelve month high of $11.70. The stock has a market cap of $3.77 billion, a PE ratio of -20.79 and a beta of 2.46. The firm has a 50-day simple moving average of $6.22 and a 200 day simple moving average of $3.07.

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

Institutional Investors Weigh In On Ondas

A number of institutional investors have recently bought and sold shares of the business. GatePass Capital LLC bought a new position in shares of Ondas during the 2nd quarter worth about $192,000. Squarepoint Ops LLC raised its position in Ondas by 467.6% in the second quarter. Squarepoint Ops LLC now owns 356,421 shares of the company's stock worth $684,000 after purchasing an additional 293,628 shares in the last quarter. Marex Group plc acquired a new stake in Ondas during the second quarter valued at approximately $2,112,000. Shellback Capital LP bought a new stake in shares of Ondas in the 2nd quarter valued at approximately $1,470,000. Finally, Manatuck Hill Partners LLC acquired a new position in shares of Ondas in the 2nd quarter worth approximately $1,152,000. Institutional investors and hedge funds own 37.73% of the company's stock.

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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