Ondas (NASDAQ:ONDS) Reaches New 52-Week High - Here's Why

Key Points

• Ondas Holdings Inc. reached a new 52-week high, trading at $3.41 with over 1.6 million shares exchanged.
• Recent analysts' ratings include a "buy" from Lake Street Capital and a shift from "sell" to "hold" by Wall Street Zen.
• Institutional investors now own 37.73% of Ondas, with significant stake increases reported by Caitong International Asset Management and others in the second quarter.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $3.41 and last traded at $3.41, with a volume of 1665305 shares traded. The stock had previously closed at $3.33.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONDS. Lake Street Capital began coverage on Ondas in a report on Monday, April 14th. They issued a "buy" rating and a $2.50 price target for the company. Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Ondas Trading Down 2.6%

The business's 50-day moving average is $1.91 and its two-hundred day moving average is $1.39. The company has a current ratio of 0.86, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $582.68 million, a PE ratio of -5.58 and a beta of 2.29.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). Ondas had a negative net margin of 412.92% and a negative return on equity of 232.07%. The company had revenue of $4.25 million for the quarter, compared to analyst estimates of $4.94 million. On average, analysts predict that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in shares of Ondas in the second quarter worth about $144,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ondas by 83,399,800.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 833,999 shares of the company's stock worth $1,601,000 after buying an additional 833,998 shares during the last quarter. Exencial Wealth Advisors LLC bought a new stake in shares of Ondas during the second quarter worth approximately $36,000. Huntleigh Advisors Inc. bought a new stake in shares of Ondas during the second quarter worth approximately $1,489,000. Finally, Wealthspan Partners LLC raised its stake in shares of Ondas by 168.7% during the second quarter. Wealthspan Partners LLC now owns 54,000 shares of the company's stock worth $104,000 after buying an additional 33,900 shares during the last quarter. 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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