Ondas (NASDAQ:ONDS) Trading 12.8% Higher - What's Next?

Key Points

• Ondas Holdings Inc. shares rose by 12.8% on Friday, reaching a peak price of $3.95 with trading volume significantly higher than the average.
• Recent analyst ratings show a change in perspective, with Wall Street Zen upgrading Ondas from a "sell" to a "hold" rating.
• Ondas reported a quarterly earnings miss with an EPS of ($0.15), falling short of analysts' expectations, while also indicating a negative net margin of 412.92%.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) were up 12.8% during mid-day trading on Friday . The stock traded as high as $3.95 and last traded at $3.67. Approximately 19,148,876 shares changed hands during trading, an increase of 49% from the average daily volume of 12,870,561 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ONDS shares. Lake Street Capital started coverage on Ondas in a research note on Monday, April 14th. They set a "buy" rating and a $2.50 target price for the company. Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th.

Ondas Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.65. The stock has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $1.40. The firm has a market capitalization of $637.44 million, a price-to-earnings ratio of -6.12 and a beta of 2.29.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.25 million during the quarter, compared to analyst estimates of $4.94 million. As a group, analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Ondas

A number of institutional investors have recently modified their holdings of the company. Heights Capital Management Inc. grew its stake in shares of Ondas by 397.6% in the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company's stock valued at $12,317,000 after buying an additional 3,844,401 shares in the last quarter. Geode Capital Management LLC grew its stake in Ondas by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company's stock worth $2,583,000 after purchasing an additional 490,239 shares in the last quarter. Cresset Asset Management LLC acquired a new position in Ondas during the 4th quarter worth $3,288,000. Caitong International Asset Management Co. Ltd grew its stake in Ondas by 83,399,800.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 833,999 shares of the company's stock worth $1,601,000 after purchasing an additional 833,998 shares in the last quarter. Finally, Huntleigh Advisors Inc. acquired a new position in Ondas during the 2nd quarter worth $1,489,000. 37.73% of the stock is owned by institutional investors and hedge funds.

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.