Investors Buy Large Volume of Ondas Call Options (NASDAQ:ONDS)

Ondas Holdings Inc. (NASDAQ:ONDS) saw unusually large options trading on Wednesday. Traders purchased 13,588 call options on the stock. This represents an increase of 249% compared to the typical daily volume of 3,896 call options.

Analysts Set New Price Targets

Separately, Northland Securities lifted their target price on shares of Ondas from $1.50 to $4.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th.

Insider Buying and Selling

In related news, Director Randy Seidl sold 21,359 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $1.29, for a total transaction of $27,553.11. Following the completion of the sale, the director now directly owns 124,513 shares in the company, valued at approximately $160,621.77. The trade was a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONDS. Heights Capital Management Inc. increased its position in Ondas by 397.6% during the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company’s stock worth $12,317,000 after purchasing an additional 3,844,401 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Ondas in the 4th quarter valued at approximately $3,288,000. Geode Capital Management LLC increased its holdings in shares of Ondas by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 726,165 shares of the company’s stock worth $1,859,000 after buying an additional 103,570 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Ondas by 50.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 614,291 shares of the company’s stock worth $1,573,000 after buying an additional 206,891 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Ondas during the 4th quarter valued at approximately $1,050,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Price Performance

ONDS traded down $0.06 on Wednesday, reaching $0.66. 18,689,557 shares of the company’s stock were exchanged, compared to its average volume of 2,422,172. Ondas has a twelve month low of $0.54 and a twelve month high of $3.40. The stock has a market cap of $60.43 million, a PE ratio of -0.92 and a beta of 2.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. The stock’s fifty day moving average price is $1.75 and its 200-day moving average price is $1.25.

Ondas (NASDAQ:ONDS) last released its earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. Sell-side analysts expect that Ondas will post -0.53 EPS for the current 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.