Ondas Target of Unusually High Options Trading (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of unusually large options trading activity on Thursday. Investors purchased 119,929 call options on the company. This is an increase of 40% compared to the average volume of 85,772 call options.

Ondas Trading Up 18.3%

Shares of NASDAQ:ONDS traded up $1.01 on Thursday, reaching $6.52. 141,980,167 shares of the company traded hands, compared to its average volume of 27,307,396. The stock has a market capitalization of $2.40 billion, a P/E ratio of -12.55 and a beta of 2.43. The business’s 50-day simple moving average is $7.37 and its 200 day simple moving average is $4.00. Ondas has a 52 week low of $0.57 and a 52 week high of $11.70.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The firm had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. Sell-side analysts expect that Ondas will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. RiverGlades Family Offices LLC boosted its position in Ondas by 54.0% during the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after acquiring an additional 5,400 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after acquiring an additional 9,904 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in Ondas during the 3rd quarter valued at about $77,000. SG Americas Securities LLC purchased a new position in Ondas in the 3rd quarter worth approximately $78,000. Finally, Shikiar Asset Management Inc. bought a new position in shares of Ondas during the third quarter valued at $85,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Ondas from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. 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. Lake Street Capital increased their price objective on Ondas from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Needham & Company LLC initiated coverage on Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.25.

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.