Ondas (NASDAQ:ONDS) Shares Climb 3% - Should You Buy?

Key Points

• Ondas shares rose 3% to $6.20 in Friday trading, but remained below their 50-day and 200-day moving averages of $7.44 and $8.57, respectively.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $16.89, although Weiss Ratings downgraded the stock to “sell.”
• The company beat revenue expectations but missed quarterly EPS estimates, reporting a loss of $0.19 per share versus expectations of a $0.09 loss; two insiders also recently sold shares.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) were up 3% during trading on Friday. The stock traded as high as $6.35 and last traded at $6.20. Approximately 40,735,340 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 79,087,602 shares. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ONDS. Weiss Ratings lowered shares of Ondas from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 4th. Oppenheimer upped their price objective on shares of Ondas from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Citizens Jmp assumed coverage on shares of Ondas in a research note on Monday, October 5th. They issued an "outperform" rating and a $14.00 price objective for the company. Roth Capital reissued a "buy" rating on shares of Ondas in a research report on Tuesday, August 18th. Finally, LADENBURG THALM/SH SH lifted their target price on shares of Ondas from $21.50 to $22.75 and gave the stock a "buy" rating in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ondas currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.89.

Ondas Price Performance

The business's fifty day moving average price is $7.44 and its 200-day moving average price is $8.57. The stock has a market capitalization of $3.61 billion, a PE ratio of -88.57 and a beta of 2.92.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The firm had revenue of $83.77 million for the quarter, compared to analysts' expectations of $67.97 million. On average, analysts expect that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Neil Laird sold 4,952 shares of the company's stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the transaction, the chief financial officer owned 42,246 shares of the company's stock, valued at approximately $326,984.04. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Cohen sold 7,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the sale, the director owned 261,836 shares in the company, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is owned by insiders.

Institutional Trading of Ondas

Large investors have recently modified their holdings of the business. Sowell Financial Services LLC grew its holdings in shares of Ondas by 47.1% during the third quarter. Sowell Financial Services LLC now owns 21,366 shares of the company's stock worth $157,000 after purchasing an additional 6,844 shares in the last quarter. Wedbush Securities Inc. grew its stake in Ondas by 5.5% in the 3rd quarter. Wedbush Securities Inc. now owns 36,250 shares of the company's stock worth $266,000 after buying an additional 1,900 shares in the last quarter. Sterling Capital Management LLC grew its stake in Ondas by 935.9% in the 3rd quarter. Sterling Capital Management LLC now owns 17,755 shares of the company's stock worth $130,000 after buying an additional 16,041 shares in the last quarter. T3 Companies LLC bought a new position in shares of Ondas in the 3rd quarter worth $164,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Ondas by 8.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 212,883 shares of the company's stock worth $1,560,000 after buying an additional 15,938 shares during the last quarter. Institutional investors own 37.73% of the company's stock.

About Ondas

Ondas Holdings Inc NASDAQ: ONDS develops autonomous drone systems and private wireless networking solutions for industrial, government, and critical-infrastructure applications. Its businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.

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