Ondas (NASDAQ:ONDS) Trading Up 6.5% – What’s Next?
by Sarita Garza · The Markets DailyOndas Holdings Inc. (NASDAQ:ONDS – Get Free Report) shares shot up 6.5% during trading on Tuesday . The company traded as high as $8.55 and last traded at $8.07. 89,596,794 shares were traded during trading, an increase of 174% from the average session volume of 32,712,850 shares. The stock had previously closed at $7.58.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on ONDS shares. HC Wainwright began coverage on shares of Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ondas in a research report on Monday. Loop Capital set a $10.00 price target on Ondas in a report on Wednesday, November 26th. Oppenheimer raised Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Friday, November 14th. Finally, Zacks Research cut shares of Ondas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.
Check Out Our Latest Analysis on ONDS
Ondas Trading Up 3.0%
The stock has a fifty day moving average of $7.78 and a two-hundred day moving average of $4.74. The company has a market capitalization of $3.39 billion, a PE ratio of -22.98 and a beta of 2.42.
Ondas (NASDAQ:ONDS – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. Equities analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current year.
Insiders Place Their Bets
In other Ondas news, Director Ron Stern sold 850,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Ondas
A number of hedge funds and other institutional investors have recently modified their holdings of ONDS. Vanguard Group Inc. lifted its position in Ondas by 109.9% in the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock valued at $103,567,000 after purchasing an additional 7,024,549 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Ondas in the second quarter worth $14,479,000. AWM Investment Company Inc. bought a new stake in Ondas during the 2nd quarter valued at $11,123,000. Cresset Asset Management LLC boosted its position in Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after buying an additional 3,383,629 shares during the period. Finally, Two Sigma Investments LP grew 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 worth $35,267,000 after acquiring an additional 4,247,859 shares during the last quarter. Institutional investors own 37.73% of the company’s stock.
Ondas Company Profile
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.
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