Ondas (NASDAQ:ONDS) Shares Climb 3% – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price was up 3% during mid-day trading on Friday. The stock traded as high as $6.35 and last traded at $6.20. 40,735,340 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 79,087,602 shares. The stock had previously closed at $6.02.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Citizens Jmp started coverage on Ondas in a report on Monday, October 5th. They issued an “outperform” rating and a $14.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Ondas in a research report on Monday. LADENBURG THALM/SH SH raised their price objective on Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a report on Monday, August 17th. Finally, Roth Capital restated a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

Ondas Stock Performance

The stock has a 50-day moving average price of $7.44 and a two-hundred day moving average price of $8.57. The stock has a market capitalization of $3.61 billion, a P/E ratio of -88.57 and a beta of 2.92.

Ondas (NASDAQ:ONDS) last posted 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 firm had revenue of $83.77 million for 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%. Equities analysts anticipate that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard M. Cohen sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the company’s 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 in the company, valued at approximately $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Ondas

A number of large investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC grew its holdings in shares of Ondas by 47.1% in the third quarter. Sowell Financial Services LLC now owns 21,366 shares of the company’s stock worth $157,000 after acquiring an additional 6,844 shares during the period. Wedbush Securities Inc. boosted its holdings in Ondas by 5.5% in the 3rd quarter. Wedbush Securities Inc. now owns 36,250 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares during the period. Sterling Capital Management LLC lifted its holdings in Ondas by 935.9% in the 3rd quarter. Sterling Capital Management LLC now owns 17,755 shares of the company’s stock worth $130,000 after purchasing an additional 16,041 shares in the last quarter. T3 Companies LLC purchased a new position in Ondas during the third quarter valued at $164,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Ondas by 8.1% in the third quarter. SBI Securities Co. Ltd. now owns 212,883 shares of the company’s stock worth $1,560,000 after purchasing an additional 15,938 shares during the last quarter. 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.