Ondas (NASDAQ:ONDS) Stock Price Down 6.4% - What's Next?

Key Points

• Ondas Holdings Inc. shares declined by 6.4% to $7.38, with a trading volume of 24,950,231 shares, exceeding the average by 29%.
• Investment analysts have mixed ratings, with three analysts giving a Buy rating and an average target price of $5.67, while one firm raised its price target from $5.00 to $8.00.
• Ondas reported $6.27 million in revenue for the quarter, surpassing estimates, but still has a negative net margin of 300.11%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) shares fell 6.4% on Wednesday . The company traded as low as $7.33 and last traded at $7.38. 24,950,231 shares changed hands during trading, an increase of 29% from the average session volume of 19,307,914 shares. The stock had previously closed at $7.88.

Analysts Set New Price Targets

ONDS has been the subject of several 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 started 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. Finally, Lake Street Capital boosted their price objective on shares of Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $5.67.

Ondas Stock Performance

The business's fifty day moving average is $4.27 and its 200-day moving average is $2.24. The firm has a market cap of $2.40 billion, a P/E ratio of -14.41 and a beta of 2.42.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $6.27 million during 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 fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ONDS. Millennium Management LLC lifted its position in Ondas by 150.0% in 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 during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Ondas in the fourth quarter worth $31,000. Squarepoint Ops LLC purchased a new stake in shares of Ondas during the fourth quarter valued at $48,000. B. Riley Wealth Advisors Inc. bought a new position in Ondas in the fourth quarter valued at about $46,000. Finally, XML Financial LLC bought a new position in Ondas in the first quarter valued at about $107,000. Hedge funds and other 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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