Investors Purchase High Volume of Call Options on Ondas (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) was the target of unusually large options trading activity on Thursday. Traders bought 81,677 call options on the company. Thisisanincreaseof136% compared to the typical daily volume of 34,615 call options.

Hedge Funds Weigh In On Ondas

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Ondas by 119.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock worth $29,000 after purchasing an additional 6,200 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Ondas during the fourth quarter worth $31,000. SBI Securities Co. Ltd. raised 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 worth $31,000 after purchasing an additional 9,904 shares during the period. XTX Topco Ltd acquired a new stake in shares of Ondas during the first quarter worth $32,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Ondas during the first quarter worth $34,000. 37.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Lake Street Capital boosted their target price on shares of Ondas from $2.50 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Needham & Company LLC assumed coverage on shares of Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price on the stock. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ondas has a consensus rating of “Buy” and a consensus target price of $4.67.

Ondas Price Performance

ONDS opened at $5.63 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of -10.83 and a beta of 2.42. The firm’s fifty day moving average price is $3.20 and its 200 day moving average price is $1.78. Ondas has a 12-month low of $0.57 and a 12-month high of $6.19.

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