Ondas (NASDAQ:ONDS) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Shares of Ondas Holdings Inc. (NASDAQ:ONDS) experienced a significant trading volume spike, with approximately 36.1 million shares traded, marking a 191% increase from the previous session.
• Analysts have shown varied opinions on the stock, with Lake Street Capital initiating coverage with a "buy" rating and a target price of $2.50, while Wall Street Zen upgraded it from "sell" to "hold".
• Ondas reported a net loss of ($0.15) EPS for the last quarter, missing estimates, with revenues of $4.25 million compared to analyst expectations of $4.94 million.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) saw an uptick in trading volume on Tuesday . 36,145,005 shares traded hands during trading, an increase of 191% from the previous session's volume of 12,417,357 shares.The stock last traded at $3.02 and had previously closed at $2.67.

Analyst Upgrades and Downgrades

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

Ondas Trading Up 9.2%

The firm has a 50 day simple moving average of $2.00 and a 200 day simple moving average of $1.40. The firm has a market capitalization of $637.44 million, a PE ratio of -6.12 and a beta of 2.29. The company has a current ratio of 0.86, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.25 million for the quarter, compared to the consensus estimate of $4.94 million. Equities analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Ondas by 119.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after acquiring an additional 6,200 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Ondas during the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. raised its stake in shares of Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after acquiring an additional 9,904 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ondas during the first quarter valued at approximately $32,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Ondas during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.