Ondas (NASDAQ:ONDS) Sees Large Volume Increase - Here's What Happened

Key Points

• Ondas Holdings Inc. experienced a significant increase in trading volume, with 25,689,923 shares traded, marking a 24% rise from the prior session.
• The company's stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.67.
• Ondas reported better-than-expected earnings, posting a revenue of $6.27 million for the last quarter, surpassing analyst estimates of $4.97 million.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw an uptick in trading volume on Friday . 25,689,923 shares changed hands during trading, an increase of 24% from the previous session's volume of 20,664,578 shares.The stock last traded at $9.48 and had previously closed at $9.21.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ondas in a report on Saturday, September 27th. Needham & Company LLC began coverage on shares of Ondas in a research note on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price objective for the company. Finally, Lake Street Capital upped their price objective on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Ondas has an average rating of "Moderate Buy" and a consensus price target of $5.67.

Ondas Price Performance

The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -19.06 and a beta of 2.46. The stock's 50 day simple moving average is $5.05 and its two-hundred day simple moving average is $2.57.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.97 million. As a group, analysts predict that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Ondas

Several institutional investors have recently bought and sold shares of the stock. Hood River Capital Management LLC acquired a new position in Ondas during the second quarter worth $14,479,000. AWM Investment Company Inc. bought a new stake in shares of Ondas in the 2nd quarter worth about $11,123,000. Cresset Asset Management LLC grew its holdings in shares of Ondas by 263.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company's stock worth $8,962,000 after purchasing an additional 3,383,629 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Ondas during the 2nd quarter worth about $3,086,000. Finally, Geode Capital Management LLC lifted its holdings in Ondas by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company's stock valued at $2,583,000 after purchasing an additional 490,239 shares during the last quarter. 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.

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