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

Key Points

• Ondas Holdings Inc. shares gapped up from a previous close of $7.06 to open at $7.67, last trading at $7.89 with a volume of over 14 million shares.
• Analysts have given mixed ratings on the stock, with Zacks upgrading it to a "strong-buy," while Weiss Ratings maintained a "sell" rating; the consensus target price is set at $7.25.
• The company reported a revenue of $6.27 million in its latest quarterly earnings, exceeding the analyst estimate of $4.97 million, despite a negative EPS of ($0.08).

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $7.06, but opened at $7.67. Ondas shares last traded at $7.89, with a volume of 14,353,545 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on ONDS shares. Zacks Research raised Ondas from a "hold" rating to a "strong-buy" rating in a report on Monday. Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Ondas in a report on Wednesday, October 8th. Lake Street Capital increased their price objective on Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, HC Wainwright began coverage on Ondas in a research report on Monday, October 6th. They issued a "buy" rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Ondas currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

Ondas Stock Up 8.3%

The company has a market capitalization of $2.67 billion, a PE ratio of -14.66 and a beta of 2.46. The firm has a 50-day moving average of $6.94 and a two-hundred day moving average of $3.43.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate 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. On average, equities research analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ONDS. SBI Securities Co. Ltd. boosted 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 buying an additional 9,904 shares during the period. XTX Topco Ltd purchased a new position in shares of Ondas during the first quarter worth $32,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Ondas during the first quarter worth $34,000. Penbrook Management LLC purchased a new position in shares of Ondas during the second quarter worth $35,000. Finally, Exencial Wealth Advisors LLC purchased a new position in shares of Ondas during the second quarter worth $36,000. 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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