Ondas (NASDAQ:ONDS) Shares Up 11.8% – Still a Buy?

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) rose 11.8% during trading on Monday. The company traded as high as $6.13 and last traded at $5.97. Approximately 47,537,849 shares traded hands during trading, a decline of 39% from the average session volume of 77,380,750 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

Several research firms have recently issued reports on ONDS. The Goldman Sachs Group raised shares of Ondas to a “buy” rating in a research report on Monday, November 2nd. Citigroup restated a “market outperform” rating on shares of Ondas in a report on Monday, October 19th. Oppenheimer upped their target price on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen lowered Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Citizens Jmp began coverage on shares of Ondas in a research note on Monday, October 5th. They set an “outperform” rating and a $14.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

Ondas Stock Up 11.8%

The business’s 50 day moving average is $6.87 and its two-hundred day moving average is $8.88. The firm has a market capitalization of $3.48 billion, a P/E ratio of -85.29 and a beta of 3.10.

Ondas (NASDAQ:ONDS) last posted 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 company had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. As a group, equities analysts anticipate that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Ondas

In other news, Director Richard M. Cohen sold 7,500 shares of the firm’s 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 sale, the director directly owned 261,836 shares of the company’s stock, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. 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 completion of the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at $326,984.04. This represents a 10.49% decrease in their position. The SEC filing for this sale provides additional information. 1.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Ondas

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Ondas during the second quarter valued at $13,158,000. Bank of America Corp DE raised its position in Ondas by 1,443.9% during the first 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 in the last quarter. RFG Advisory LLC lifted its stake in shares of Ondas by 57.0% in the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after purchasing an additional 1,012,353 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Ondas in the first quarter worth about $5,000,000. Finally, Cetera Investment Advisers boosted its position in Ondas by 281.3% during the first quarter. Cetera Investment Advisers now owns 707,486 shares of the company’s stock worth $6,396,000 after purchasing an additional 521,944 shares during the period. 37.73% of the stock is owned by institutional investors and hedge funds.

Ondas Company Profile

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems.

Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks.

Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.