Ondas (NASDAQ:ONDS) Sets New 1-Year High - Should You Buy?

Key Points

• Ondas Holdings Inc. shares hit a 52-week high of $6.50, with a last trading price of $6.35 and a significant trading volume of over 22 million shares.
• Analysts have a favorable outlook on Ondas, with three ratings of "Buy" and an average price target of $4.67 after recent reports from various research firms.
• In its latest quarterly earnings, Ondas reported $6.27 million in revenue, exceeding estimates, but also posted a negative net margin of 300.11%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $6.50 and last traded at $6.35, with a volume of 22207715 shares changing hands. The stock had previously closed at $5.63.

Wall Street Analyst Weigh In

Several analysts have issued reports on ONDS shares. Lake Street Capital lifted their price target on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC started coverage on Ondas in a research note on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $5.67.

Ondas Stock Performance

The company has a 50-day simple moving average of $3.51 and a two-hundred day simple moving average of $1.91.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm had revenue of $6.27 million for 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 forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ONDS. Hood River Capital Management LLC acquired a new position in shares of Ondas during the 2nd quarter worth approximately $14,479,000. AWM Investment Company Inc. acquired a new position in shares of Ondas during the 2nd quarter worth approximately $11,123,000. Cresset Asset Management LLC increased its holdings 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 during the last quarter. Sei Investments Co. acquired a new position in shares of Ondas during the 2nd quarter worth approximately $3,086,000. Finally, HRT Financial LP acquired a new position in shares of Ondas during the 2nd quarter worth approximately $2,244,000. Institutional investors and hedge funds own 37.73% of the company's stock.

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.