Ondas (NASDAQ:ONDS) Trading Down 5.3% - What's Next?

Key Points

• Shares of Ondas Holdings Inc. (NASDAQ: ONDS) fell by 5.3% during mid-day trading, reaching a low of $5.92, with trading volume down 58% from average levels.
• Analysts have mixed ratings on Ondas, with Lake Street Capital raising their price target to $8.00 while the consensus price target is currently $5.67.
• Ondas reported a quarterly earnings result of ($0.08) EPS, beating estimates and generating revenue of $6.27 million, exceeding the $4.97 million consensus expectation.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares traded down 5.3% during trading on Tuesday . The stock traded as low as $5.92 and last traded at $6.04. 7,776,469 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 18,322,059 shares. The stock had previously closed at $6.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ONDS shares. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Lake Street Capital raised their price target on Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, 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 target price on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $5.67.

Ondas Price Performance

The stock has a market cap of $2.16 billion, a PE ratio of -12.92 and a beta of 2.42. The business has a fifty day moving average of $4.05 and a 200-day moving average of $2.13.

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 analysts' consensus estimates of ($0.11) by $0.03. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The business had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. As a group, equities research analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Ondas

Several large investors have recently modified their holdings of ONDS. Millennium Management LLC boosted its stake in shares of Ondas by 150.0% during the fourth 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. Summit Trail Advisors LLC purchased a new stake in shares of Ondas during the 1st quarter worth $187,000. Two Sigma Investments LP bought a new position in Ondas in the fourth quarter worth about $31,000. Squarepoint Ops LLC purchased a new stake in shares of Ondas during the fourth quarter valued at about $48,000. Finally, Captrust Financial Advisors bought a new stake in shares of Ondas in the 4th quarter valued at about $72,000. 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.