Ondas (NASDAQ:ONDS) Shares Gap Up - Still a Buy?

Key Points

• Ondas Holdings Inc. (NASDAQ:ONDS) saw its stock price jump from $3.43 to $3.94 before trading, with a current price of $4.17 and a trading volume of over 23 million shares.
• Analyst ratings show mixed sentiments with Lake Street Capital initiating coverage with a "buy" rating at $2.50, while Wall Street Zen upgraded its rating from "sell" to "hold."
• The company reported a quarterly loss of ($0.15) earnings per share, missing analysts' estimates, and has a negative net margin of 412.92% with revenue of $4.25 million against expectations of $4.94 million.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $3.43, but opened at $3.94. Ondas shares last traded at $4.17, with a volume of 23,045,227 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on ONDS. Lake Street Capital initiated coverage on shares of Ondas in a research note on Monday, April 14th. They issued a "buy" rating and a $2.50 price target on the stock. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Ondas Trading Up 23.5%

The stock has a market capitalization of $760.44 million, a P/E ratio of -7.30 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.86. The firm's fifty day simple moving average is $2.03 and its 200 day simple moving average is $1.40.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $4.25 million during the quarter, compared to analyst estimates of $4.94 million. As a group, equities research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings 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 worth $29,000 after purchasing an additional 6,200 shares during the last quarter. SBI Securities Co. Ltd. raised its position 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 worth $31,000 after acquiring an additional 9,904 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Ondas during the fourth quarter worth about $31,000. Millennium Management LLC increased its position in Ondas by 150.0% during 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 during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Ondas during the 4th quarter valued at approximately $46,000. 37.73% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.