Ondas (NASDAQ:ONDS) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Ondas (NASDAQ:ONDS - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Lake Street Capital initiated coverage on shares of Ondas in a research report on Monday, April 14th. They issued a "buy" rating and a $2.50 price objective on the stock.

Ondas Stock Performance

Shares of ONDS stock traded down $0.05 during midday trading on Friday, hitting $2.26. 12,419,820 shares of the company were exchanged, compared to its average volume of 6,850,662. Ondas has a 52 week low of $0.54 and a 52 week high of $3.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.86. The firm's 50 day moving average price is $1.42 and its two-hundred day moving average price is $1.38. The firm has a market capitalization of $406.16 million, a P/E ratio of -3.94 and a beta of 2.29.

Ondas (NASDAQ:ONDS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share (EPS) 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 company had revenue of $4.25 million for the quarter, compared to analyst estimates of $4.94 million. As a group, equities research analysts anticipate that Ondas will post -0.53 earnings per share for the current year.

Institutional Trading of Ondas

A number of hedge funds and other institutional investors have recently modified their holdings of ONDS. Quantbot Technologies LP purchased a new position in Ondas during the 4th quarter valued at about $55,000. Raymond James Financial Inc. purchased a new stake in Ondas in the 4th quarter worth $235,000. Marshall Wace LLP purchased a new stake in Ondas in the 4th quarter worth $831,000. Millennium Management LLC grew its stake in Ondas by 150.0% during the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock valued at $73,000 after acquiring an additional 17,021 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Ondas in the 4th quarter valued at about $1,050,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

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.