Stock Traders Buy High Volume of Call Options on Ondas (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 65,429 call options on the company. This represents an increase of approximately 24% compared to the average daily volume of 52,884 call options.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Lake Street Capital lifted their price objective on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Needham & Company LLC started coverage on Ondas in a report on Tuesday, August 19th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Wall Street Zen upgraded Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $5.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hood River Capital Management LLC purchased a new position in shares of Ondas in the 2nd quarter valued at about $14,479,000. AWM Investment Company Inc. acquired a new stake in shares of Ondas during the 2nd quarter valued at approximately $11,123,000. Cresset Asset Management LLC boosted its stake in shares of Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock worth $8,962,000 after acquiring an additional 3,383,629 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Ondas in the 2nd quarter worth approximately $3,086,000. Finally, HRT Financial LP purchased a new position in Ondas in the 2nd quarter valued at approximately $2,244,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Stock Up 2.7%

NASDAQ ONDS opened at $7.87 on Tuesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -15.13 and a beta of 2.40. Ondas has a 52-week low of $0.57 and a 52-week high of $8.71. The firm has a 50-day moving average price of $4.69 and a 200 day moving average price of $2.44.

Ondas (NASDAQ:ONDS) last released its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $6.27 million for the quarter, compared to analysts’ expectations of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. On average, equities research analysts expect that Ondas will post -0.53 earnings per share 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.