Ondas (NASDAQ:ONDS) Shares Up 2.8% - What's Next?

Key Points

• Ondas shares rose 2.8% to $6.27, although trading volume was about 48% below the daily average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with 10 Buy ratings, one Hold, and one Sell; the consensus is “Moderate Buy” with an average price target of $16.89.
• Ondas reported quarterly revenue of $83.77 million, exceeding expectations, but its $0.19 per-share loss was wider than forecast. Two insiders recently sold shares, while institutional investors own 37.73% of the company.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s share price rose 2.8% on Wednesday. The stock traded as high as $6.37 and last traded at $6.27. Approximately 41,099,339 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 79,470,188 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ONDS shares. Needham & Company LLC reissued a "buy" rating and set a $19.00 price target on shares of Ondas in a report on Monday, September 14th. Citizens Jmp began coverage on shares of Ondas in a research note on Monday, October 5th. They issued an "outperform" rating and a $14.00 price objective on the stock. Citigroup restated a "market outperform" rating on shares of Ondas in a research report on Monday. Wall Street Zen downgraded shares of Ondas from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Oppenheimer boosted their target price 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. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.89.

Ondas Stock Up 2.8%

The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -89.57 and a beta of 2.92. The stock has a fifty day moving average price of $7.57 and a two-hundred day moving average price of $8.61.

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

Insider Transactions at Ondas

In other news, CFO Neil Laird sold 4,952 shares of Ondas stock in a transaction dated Thursday, September 24th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Cohen sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the sale, the director owned 261,836 shares of the company's stock, valued at approximately $2,346,050.56. This represents a 2.78% decrease in their ownership of the stock. 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. Company insiders own 1.67% of the company's stock.

Institutional Investors Weigh In On Ondas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONDS. State of Wyoming boosted its stake in Ondas by 31.5% during the 1st quarter. State of Wyoming now owns 6,809 shares of the company's stock valued at $62,000 after acquiring an additional 1,631 shares during the last quarter. NFSG Corp increased its position in shares of Ondas by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company's stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. Steadtrust LLC raised its stake in shares of Ondas by 10.3% in the 2nd quarter. Steadtrust LLC now owns 21,473 shares of the company's stock valued at $177,000 after purchasing an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Ondas by 5,373.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company's stock valued at $28,000 after purchasing an additional 3,063 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Ondas during the first quarter worth about $28,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Ondas Company Profile

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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