Ondas (NASDAQ:ONDS) Shares Up 4.6% – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price was up 4.6% on Tuesday . The company traded as high as $7.75 and last traded at $7.72. 65,327,047 shares changed hands during trading, a decline of 21% from the average session volume of 82,203,867 shares. The stock had previously closed at $7.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ONDS shares. Weiss Ratings cut shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Roth Capital restated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of Ondas in a report on Monday, September 14th. Wall Street Zen cut shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, LADENBURG THALM/SH SH lifted their price objective on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a research report on Monday, August 17th. Eight 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. Based on data from MarketBeat, Ondas currently has a consensus rating of “Moderate Buy” and an average price target of $17.18.

Ondas Stock Down 1.8%

The stock has a market capitalization of $4.15 billion, a PE ratio of -103.93 and a beta of 2.74. The firm has a 50 day moving average price of $7.98 and a 200 day moving average price of $9.02.

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

Insider Activity at Ondas

In other news, 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 transaction of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares in the company, valued at approximately $2,346,050.56. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is owned by corporate insiders.

Institutional Trading of Ondas

A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of Ondas by 9,274.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock valued at $33,832,000 after acquiring an additional 3,429,398 shares during the period. RFG Advisory LLC increased its holdings in shares of Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock worth $22,967,000 after purchasing an additional 1,012,353 shares during the period. Bank of New York Mellon Corp bought a new stake in Ondas during the second quarter valued at $13,158,000. Legal & General Group Plc purchased a new position in Ondas during the fourth quarter worth about $14,215,000. Finally, Bank of America Corp DE boosted its position in shares of Ondas by 1,443.9% during the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock valued at $12,700,000 after acquiring an additional 1,313,823 shares during the last quarter. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.