Ondas Sees Unusually Large Options Volume (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of some unusual options trading on Wednesday. Investors acquired 163,637 call options on the company. This is an increase of 62% compared to the average volume of 100,726 call options.

Insider Activity

In related news, Director Ron Stern sold 850,000 shares of Ondas stock in a transaction dated Wednesday, November 26th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ONDS shares. Zacks Research cut Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ondas in a report on Monday. Lake Street Capital boosted their target price on shares of Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Friday, November 14th. Finally, HC Wainwright began coverage on shares of Ondas in a research report on Monday, October 6th. They issued a “buy” rating and a $12.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ondas currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Ondas Trading Up 3.0%

Shares of Ondas stock opened at $9.19 on Friday. Ondas has a twelve month low of $0.57 and a twelve month high of $11.70. The firm has a market capitalization of $3.39 billion, a PE ratio of -22.98 and a beta of 2.42. The firm’s 50-day moving average price is $7.78 and its 200 day moving average price is $4.74.

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

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.