Ondas (NASDAQ:ONDS) Stock Price Up 7.8% - What's Next?

Key Points

• Ondas Holdings Inc. stock increased by 7.8%, closing at $5.88, with over 27 million shares traded during the day, showing a significant rise in trading volume.
• Research analysts recently upgraded the stock's ratings, with a consensus rating of "Buy" and a target price of $4.67 from several firms, including Wells Fargo and Lake Street Capital.
• In Q2, Ondas reported a revenue of $6.27 million, surpassing analyst expectations, while the company faces challenges indicated by a negative net margin of 300.11% and return on equity of -130.48%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s stock price was up 7.8% on Wednesday . The stock traded as high as $5.90 and last traded at $5.88. Approximately 27,518,011 shares traded hands during mid-day trading, an increase of 56% from the average daily volume of 17,675,014 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Needham & Company LLC assumed coverage on Ondas in a research note on Tuesday, August 19th. They set a "buy" rating and a $5.00 price target on the stock. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Lake Street Capital upped their target price on Ondas from $2.50 to $5.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $4.67.

Ondas Price Performance

The firm's fifty day moving average is $3.35 and its two-hundred day moving average is $1.85. The firm has a market capitalization of $1.21 billion, a PE ratio of -10.65 and a beta of 2.40.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its 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 net margin of 300.11% and a negative return on equity of 130.48%. The firm had revenue of $6.27 million for the quarter, compared to analysts' expectations of $4.97 million. As a group, equities research analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Ondas by 119.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after acquiring an additional 6,200 shares during the period. Two Sigma Investments LP purchased a new position in shares of Ondas in the fourth quarter worth about $31,000. SBI Securities Co. Ltd. raised its position in shares of Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after purchasing an additional 9,904 shares during the period. XTX Topco Ltd purchased a new stake in shares of Ondas during the 1st quarter valued at approximately $32,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Ondas in the 1st quarter worth approximately $34,000. Institutional investors own 37.73% of the company's stock.

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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