Ondas (NASDAQ:ONDS) Shares Gap Up - What's Next?

Key Points

• Ondas Holdings Inc. shares gapped up, opening at $7.52 after a previous close of $7.26, with a trading volume of 8,856,810 shares.
• Analyst ratings for Ondas have improved, with Wall Street Zen upgrading it from "sell" to "hold" and Lake Street Capital raising its price target from $5.00 to $8.00.
• The company reported $6.27 million in revenue for the last quarter, exceeding expectations, and has a consensus Buy rating from analysts.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.26, but opened at $7.52. Ondas shares last traded at $7.51, with a volume of 8,856,810 shares.

Analyst Ratings Changes

ONDS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Needham & Company LLC initiated coverage on shares of Ondas in a research note on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price objective for the company. Finally, Lake Street Capital raised their price objective on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $5.67.

Ondas Trading Up 4.2%

The firm's 50-day moving average is $4.15 and its 200 day moving average is $2.20. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -14.47 and a beta of 2.40.

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

Institutional Trading of Ondas

Several institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in shares of Ondas in the 2nd quarter worth $14,479,000. AWM Investment Company Inc. bought a new stake in shares of Ondas in the 2nd quarter worth $11,123,000. Cresset Asset Management LLC grew its stake in shares of Ondas by 263.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company's stock worth $8,962,000 after acquiring an additional 3,383,629 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Ondas in the 2nd quarter worth $3,086,000. Finally, Geode Capital Management LLC grew its stake in shares of Ondas by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company's stock worth $2,583,000 after acquiring an additional 490,239 shares in the last quarter. 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.

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