Ondas (NASDAQ:ONDS) Reaches New 12-Month High - Still a Buy?

Key Points

• Ondas Holdings Inc. shares reached a new 52-week high of $8.58, reflecting significant trading activity with nearly 10 million shares exchanged.
• Analyst ratings indicate a consensus "Buy" with three analysts upgrading their ratings, and a revised average price target of $5.67.
• Recent earnings showed Ondas reporting a revenue of $6.27 million, exceeding analysts' expectations despite a negative net margin of 300.11%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $8.56 and last traded at $8.58, with a volume of 9992286 shares changing hands. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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 price target for the company. Lake Street Capital raised their price target on shares of Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $5.67.

Ondas Stock Performance

The firm has a market cap of $2.75 billion, a P/E ratio of -16.53 and a beta of 2.40. The business's 50-day simple moving average is $4.58 and its 200 day simple moving average is $2.39.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. The business had revenue of $6.27 million during the quarter, compared to the consensus estimate of $4.97 million. As a group, equities research analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Ondas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hood River Capital Management LLC purchased a new position in Ondas during the second quarter valued at $14,479,000. AWM Investment Company Inc. purchased a new position in Ondas during the second quarter valued at $11,123,000. Cresset Asset Management LLC lifted its position in Ondas by 263.5% during the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company's stock valued at $8,962,000 after purchasing an additional 3,383,629 shares in the last quarter. Sei Investments Co. purchased a new position in Ondas during the second quarter valued at $3,086,000. Finally, HRT Financial LP purchased a new position in Ondas during the second quarter valued at $2,244,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

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