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

Key Points

• Ondas Holdings Inc. (NASDAQ: ONDS) reached a new 12-month high, trading as high as $4.51, up from a previous close of $3.80.
• Analysts are optimistic about Ondas, with prices targets set at $5.00 and a consensus rating of "Buy" from multiple firms.
• In its latest earnings report, Ondas exceeded expectations with a revenue of $6.27 million, surpassing the forecast of $4.97 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s share price hit a new 52-week high during trading on Saturday . The stock traded as high as $4.51 and last traded at $4.49, with a volume of 65262413 shares changing hands. The stock had previously closed at $3.80.

Wall Street Analyst Weigh In

Several equities analysts have commented on ONDS shares. Lake Street Capital upped their price objective on Ondas from $2.50 to $5.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Needham & Company LLC started coverage on Ondas in a research report on Tuesday. They issued a "buy" rating and a $5.00 price objective on the stock. Finally, Wall Street Zen raised 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 presently has a consensus rating of "Buy" and a consensus price target of $4.67.

Ondas Trading Up 18.2%

The business has a 50-day moving average price of $2.44 and a 200-day moving average price of $1.54. The firm has a market cap of $984.11 million, a P/E ratio of -8.63 and a beta of 2.29.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONDS. Wells Fargo & Company MN raised its stake in shares of Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after purchasing an additional 6,200 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Ondas in the fourth quarter worth about $31,000. SBI Securities Co. Ltd. raised its stake in shares of Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock worth $31,000 after purchasing an additional 9,904 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Ondas in the first quarter worth about $32,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Ondas in the first quarter worth about $34,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

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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