Ondas (NASDAQ:ONDS) Upgraded 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 report issued on Saturday morning.

Separately, Lake Street Capital started coverage on Ondas in a research report on Monday, April 14th. They set a "buy" rating and a $2.50 target price on the stock.

Ondas Stock Up 5.5%

Shares of ONDS traded up $0.11 during mid-day trading on Friday, hitting $2.12. The company's stock had a trading volume of 30,531,055 shares, compared to its average volume of 6,683,920. The company's 50-day moving average is $1.39 and its 200-day moving average is $1.40. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40. The firm has a market capitalization of $380.67 million, a price-to-earnings ratio of -3.66 and a beta of 2.29. The company has a current ratio of 0.86, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). The firm had revenue of $4.25 million for the quarter, compared to analysts' expectations of $4.94 million. Ondas had a negative net margin of 412.92% and a negative return on equity of 232.07%. On average, equities research analysts forecast that Ondas will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Ondas

Several institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after buying an additional 6,200 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Ondas in the fourth quarter valued at about $31,000. XTX Topco Ltd acquired a new stake in Ondas in the first quarter valued at about $32,000. Charles Schwab Investment Management Inc. acquired a new stake in Ondas in the first quarter valued at about $34,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Ondas during the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds 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.