Ondas (NASDAQ:ONDS) Reaches New 12-Month High - Time to Buy?

Key Points

• Ondas Holdings Inc. shares reached a new 12-month high of $11.60 before closing at $11.29, showing significant trading volume of over 11.8 million shares.
• Brokerage reports have resulted in various price targets for Ondas, with a new high of $12.00 set by HC Wainwright and an average target price of $7.25 from analysts.
• In its recent earnings report, Ondas posted revenue of $6.27 million, exceeding expectations, although it still recorded a negative net margin of 300.11%.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.60 and last traded at $11.29, with a volume of 11833944 shares. The stock had previously closed at $9.91.

Analysts Set New Price Targets

Several brokerages have recently commented on ONDS. Lake Street Capital increased their price objective on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, September 12th. HC Wainwright assumed coverage on shares of Ondas in a research report on Monday. They set a "buy" rating and a $12.00 price target on the stock. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Ondas in a research note on Saturday, September 27th. Finally, Needham & Company LLC began coverage on shares of Ondas in a research report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.25.

Ondas Trading Up 6.5%

The stock's fifty day moving average price is $5.20 and its 200 day moving average price is $2.66. The stock has a market cap of $3.39 billion, a P/E ratio of -20.41 and a beta of 2.46.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.27 million during the quarter, compared to analysts' expectations of $4.97 million. As a group, sell-side analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC purchased a new stake in shares of Ondas in the second quarter worth $14,479,000. AWM Investment Company Inc. bought a new position in Ondas in the 2nd quarter worth about $11,123,000. Cresset Asset Management LLC grew its position in Ondas by 263.5% during the 2nd 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 during the last quarter. Sei Investments Co. bought a new stake in Ondas during the 2nd quarter valued at about $3,086,000. Finally, Geode Capital Management LLC raised its holdings in Ondas by 57.4% in the second quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company's stock worth $2,583,000 after buying an additional 490,239 shares during the last quarter. Hedge funds and other institutional investors own 37.73% of the company's stock.

Ondas Company Profile

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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