Ondas (NASDAQ:ONDS) Sees Strong Trading Volume – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) shares saw an uptick in trading volume on Monday . 40,168,286 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 34,702,531 shares.The stock last traded at $7.9390 and had previously closed at $8.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Loop Capital set a $10.00 price objective on shares of Ondas in a report on Wednesday, November 26th. Lake Street Capital upped their price target on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Needham & Company LLC increased their price target on Ondas from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research cut Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, HC Wainwright initiated coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ondas Stock Performance

The stock has a market cap of $2.92 billion, a P/E ratio of -19.83 and a beta of 2.42. The business has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $5.13.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. On average, sell-side analysts predict that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Ondas

In other Ondas news, Director Ron Stern sold 850,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total transaction of $6,723,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Ondas

Several hedge funds and other institutional investors have recently modified their holdings of ONDS. Hood River Capital Management LLC bought a new position in Ondas in the 2nd quarter worth approximately $14,479,000. Vanguard Group Inc. lifted its position in shares of Ondas by 109.9% during the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock worth $103,567,000 after acquiring an additional 7,024,549 shares in the last quarter. AWM Investment Company Inc. bought a new position in shares of Ondas in the second quarter worth $11,123,000. Two Sigma Investments LP grew its position in shares of Ondas by 1,325.9% in the third quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after purchasing an additional 4,247,859 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Ondas by 263.5% in the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after purchasing an additional 3,383,629 shares in the last quarter. Institutional investors own 37.73% of the company’s stock.

About Ondas

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.