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

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 13,588 call options on the company. This is an increase of approximately 249% compared to the typical daily volume of 3,896 call options.

Ondas Stock Down 2.9 %

ONDS stock traded down $0.02 during midday trading on Thursday, reaching $0.68. The company had a trading volume of 8,167,756 shares, compared to its average volume of 2,477,488. The company has a 50 day moving average of $1.67 and a two-hundred day moving average of $1.24. The company has a current ratio of 0.43, a quick ratio of 0.21 and a debt-to-equity ratio of 0.02. Ondas has a 1 year low of $0.54 and a 1 year high of $3.40. The company has a market capitalization of $61.77 million, a P/E ratio of -0.94 and a beta of 2.00.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $5.75 million. On average, equities research analysts expect that Ondas will post -0.53 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other Ondas news, Director Randy Seidl sold 21,359 shares of the company'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 value of $27,553.11. Following the completion of the sale, the director now directly owns 124,513 shares in the company, valued at $160,621.77. This represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On Ondas

Several large investors have recently made changes to their positions in ONDS. Penbrook Management LLC acquired a new stake in Ondas in the fourth quarter valued at approximately $28,000. Wells Fargo & Company MN raised its holdings in shares of Ondas by 119.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after purchasing an additional 6,200 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Ondas in the 4th quarter valued at $31,000. Staley Capital Advisers Inc. bought a new stake in Ondas in the fourth quarter worth $32,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Ondas in the fourth quarter worth $46,000. Institutional investors own 37.73% of the company's stock.

Analyst Ratings Changes

Separately, Northland Securities boosted their price target on shares of Ondas from $1.50 to $4.00 and gave the company an "outperform" rating in a report on Monday, December 30th.

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.