Ondas (NASDAQ:ONDS) Shares Up 11.8% - Still a Buy?

Key Points

• Ondas shares rose 11.8% to $5.97 in Monday mid-day trading, on volume that was 39% below its average.
• Analysts’ consensus rating is “Moderate Buy” (11 Buy, one Hold, one Sell), with an average price target of $16.89.
• In its latest reported quarter, Ondas missed EPS expectations, reporting a loss of $0.19 per share versus an expected loss of $0.09, while revenue of $83.77 million topped estimates.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares were up 11.8% during mid-day trading on Monday. The stock traded as high as $6.13 and last traded at $5.97. Approximately 47,537,849 shares changed hands during trading, a decline of 39% from the average daily volume of 77,380,750 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

Several research firms have recently commented on ONDS. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Citigroup reissued a "market outperform" rating on shares of Ondas in a research report on Monday, October 19th. Weiss Ratings restated a "sell (d+)" rating on shares of Ondas in a research note on Monday, November 2nd. Citizens Jmp began coverage on Ondas in a research report on Monday, October 5th. They set an "outperform" rating and a $14.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded Ondas to a "buy" rating in a research note on Monday, November 2nd. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.89.

Ondas Stock Performance

The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -85.29 and a beta of 3.10. The company has a 50-day moving average price of $6.87 and a 200-day moving average price of $8.88.

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

Insider Activity at Ondas

In other news, CFO Neil J. Laird sold 4,952 shares of Ondas 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 directly owned 42,246 shares of the company's stock, valued at $326,984.04. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard M. Cohen sold 7,500 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the completion of the sale, the director owned 261,836 shares of the company's stock, valued at approximately $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. Insiders own 1.67% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ONDS. Salem Investment Counselors Inc. acquired a new stake in Ondas in the 3rd quarter valued at about $3,075,000. The Manufacturers Life Insurance Company lifted its position in shares of Ondas by 664.0% in the first quarter. The Manufacturers Life Insurance Company now owns 129,481 shares of the company's stock valued at $1,171,000 after acquiring an additional 112,534 shares in the last quarter. CI Investments Inc. acquired a new stake in shares of Ondas during the 1st quarter worth about $4,255,000. Royal Bank of Canada boosted its position in Ondas by 160.1% during the first quarter. Royal Bank of Canada now owns 384,656 shares of the company's stock worth $3,477,000 after acquiring an additional 236,782 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Ondas during the first quarter worth $5,000,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

About Ondas

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems.

Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks.

Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.

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