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

Key Points

• Ondas Holdings Inc. (NASDAQ:ONDS) experienced a significant spike in call options trading, with 81,677 call options purchased, marking a 136% increase over the typical volume.
• Institutional investors hold 37.73% of Ondas' shares, with notable increases in positions from firms like Wells Fargo and SBI Securities.
• Analysts have raised their price targets, with Lake Street Capital and Needham & Company both setting a target of $5.00, reflecting a consensus rating of "Buy" for the stock.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw some unusual options trading activity on Thursday. Stock investors bought 81,677 call options on the stock. Thisisanincreaseofapproximately136% compared to the typical volume of 34,615 call options.

Institutional Trading of Ondas

A number of hedge funds have recently bought and sold shares of ONDS. Wells Fargo & Company MN grew its position in 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 acquiring an additional 6,200 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Ondas in the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. boosted its stake in shares of Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after purchasing an additional 9,904 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Ondas during the 1st quarter valued at $32,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Ondas during the 1st quarter valued at $34,000. Institutional investors own 37.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ONDS shares. Lake Street Capital increased their target price on shares of Ondas from $2.50 to $5.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Needham & Company LLC assumed coverage on shares of Ondas in a report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.67.

Ondas Stock Performance

Shares of NASDAQ:ONDS opened at $5.03 on Thursday. The firm has a market capitalization of $1.10 billion, a PE ratio of -9.67 and a beta of 2.42. Ondas has a 52-week low of $0.57 and a 52-week high of $6.19. The firm has a fifty day moving average of $3.05 and a 200 day moving average of $1.73.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.97 million. On average, sell-side analysts forecast that Ondas will post -0.53 EPS for the current fiscal year.

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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