Ondas (NASDAQ:ONDS) Sets New 1-Year High on Analyst Upgrade

Key Points

• Ondas Holdings Inc. shares reached a new 1-year high of $6.86 following an upgrade by Lake Street Capital, which increased their price target from $5.00 to $8.00 and maintains a buy rating.
• The company's quarterly earnings report exceeded expectations, with a reported loss of ($0.08) EPS against a consensus estimate of ($0.11) EPS, and revenue of $6.27 million versus the forecast of $4.97 million.
• A significant portion, 37.73%, of Ondas' stock is owned by institutional investors, with notable new investments from groups like Jane Street Group LLC and Millennium Management LLC.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s share price hit a new 52-week high during trading on Monday after Lake Street Capital raised their price target on the stock from $5.00 to $8.00. Lake Street Capital currently has a buy rating on the stock. Ondas traded as high as $6.86 and last traded at $6.46, with a volume of 5845941 shares. The stock had previously closed at $6.56.

ONDS has been the topic of several other research reports. Needham & Company LLC started coverage on shares of Ondas in a report on Tuesday, August 19th. They set a "buy" rating and a $5.00 price objective on the stock. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $5.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ONDS. Jane Street Group LLC purchased a new position in shares of Ondas during the 4th quarter valued at approximately $1,050,000. Captrust Financial Advisors purchased a new position in Ondas in the 4th quarter valued at $72,000. Cubist Systematic Strategies LLC purchased a new position in Ondas in the 4th quarter valued at $111,000. Millennium Management LLC lifted its holdings in Ondas by 150.0% in the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock valued at $73,000 after purchasing an additional 17,021 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Ondas in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Ondas Trading Down 2.3%

The business has a fifty day simple moving average of $3.61 and a two-hundred day simple moving average of $1.96. The company has a market cap of $2.06 billion, a PE ratio of -12.28 and a beta of 2.40.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The company had revenue of $6.27 million for the quarter, compared to analyst estimates of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. Equities analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current year.

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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