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

Key Points

• Ondas Holdings Inc. (NASDAQ:ONDS) experienced a significant surge in options trading, with 79,306 call options acquired, marking a 502% increase compared to its usual volume.
• The company's stock rose to $3.00 during midday trading, with a total of 37,869,394 shares changing hands, far exceeding its average trading volume.
• Ondas reported a loss of ($0.15) EPS for its most recent quarter, missing analysts' estimates and indicating ongoing challenges with a negative net margin of 412.92%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors bought 79,306 call options on the company. Thisisanincreaseof502% compared to the average volume of 13,174 call options.

Analyst Upgrades and Downgrades

ONDS has been the topic of a number of recent analyst reports. Lake Street Capital started coverage on Ondas in a research note on Monday, April 14th. They issued a "buy" rating and a $2.50 price objective on the stock. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Ondas Stock Performance

Shares of NASDAQ ONDS traded down $0.17 during mid-day trading on Thursday, reaching $3.17. 26,270,593 shares of the company's stock were exchanged, compared to its average volume of 12,815,388. The firm has a 50-day moving average price of $1.91 and a two-hundred day moving average price of $1.39. Ondas has a 52 week low of $0.54 and a 52 week high of $3.50. The firm has a market capitalization of $568.31 million, a price-to-earnings ratio of -5.45 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.65.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Ondas had a negative net margin of 412.92% and a negative return on equity of 232.07%. The business had revenue of $4.25 million for the quarter, compared to the consensus estimate of $4.94 million. Analysts predict that Ondas will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently made changes to their positions in ONDS. Wells Fargo & Company MN raised its position in shares of Ondas by 119.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after acquiring an additional 6,200 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Ondas during the fourth quarter valued at $31,000. XTX Topco Ltd purchased a new position in shares of Ondas during the first quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Ondas in the 1st quarter worth $34,000. Finally, Penbrook Management LLC bought a new position in Ondas in the second quarter worth approximately $35,000. Institutional investors 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.