Ondas (NASDAQ:ONDS) Trading 29.4% Higher - What's Next?

Key Points

• Shares jumped 29.4% on Monday to $8.72 (intraday high $8.80) on abnormally heavy volume — about 175.7 million shares traded, a ~456% increase versus the average session volume.
• Analyst sentiment has shifted bullish with Oppenheimer upgrading to "outperform" and HC Wainwright initiating a "buy," leaving a consensus rating of "Moderate Buy" and an average price target of $9.20.
• Fundamentals remain mixed: Ondas has a market cap of $3.21 billion but reported negative EPS (-$0.06 vs. -$0.05 expected) despite a revenue beat ($10.10M), analysts project ~-0.53 EPS for the year, and institutional ownership is about 37.7%.

Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report)'s share price traded up 29.4% during trading on Monday . The company traded as high as $8.80 and last traded at $8.72. 175,669,058 shares were traded during trading, an increase of 456% from the average session volume of 31,621,906 shares. The stock had previously closed at $6.74.

Analyst Upgrades and Downgrades

ONDS has been the topic of several recent analyst reports. Oppenheimer upgraded shares of Ondas from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a report on Friday, November 14th. HC Wainwright began coverage on shares of Ondas in a research report on Monday, October 6th. They issued a "buy" rating and a $12.00 target price for the company. Zacks Research cut shares of Ondas from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. 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 report on Friday, September 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Ondas in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ondas has an average rating of "Moderate Buy" and an average target price of $9.20.

Ondas Price Performance

The stock has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $4.32. The firm has a market cap of $3.21 billion, a PE ratio of -21.80 and a beta of 2.44.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. Ondas has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Ondas

A number of hedge funds have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Ondas in the 3rd quarter worth $67,000. HBK Sorce Advisory LLC bought a new stake in Ondas in the 3rd quarter worth about $77,000. SG Americas Securities LLC purchased a new position in Ondas in the 3rd quarter worth about $78,000. Shikiar Asset Management Inc. bought a new position in Ondas during the 3rd quarter valued at about $85,000. Finally, Busey Bank purchased a new stake in shares of Ondas during the 3rd quarter valued at about $88,000. 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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