Ondas (NASDAQ:ONDS) Hits New 1-Year High Following Analyst Upgrade

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) hit a new 52-week high during trading on Monday after Lake Street Capital raised their price target on the stock from $5.00 to $8.00. Lake Street Capital currently has a buy rating on the stock. Ondas traded as high as $6.86 and last traded at $6.46, with a volume of 5845941 shares changing hands. The stock had previously closed at $6.56.

Several other equities analysts have also issued reports on ONDS. Wall Street Zen raised Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Needham & Company LLC assumed coverage on Ondas in a research report on Tuesday, August 19th. They issued a “buy” rating and a $5.00 price target for the company. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Ondas has a consensus rating of “Buy” and an average price target of $5.67.

Hedge Funds Weigh In On Ondas

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new stake in shares of Ondas during the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. increased its position in shares of Ondas by 154.9% during the 2nd 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 last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ondas during the 4th quarter valued at about $46,000. Penbrook Management LLC purchased a new stake in shares of Ondas during the 2nd quarter valued at about $35,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Ondas during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Stock Performance

The stock has a market cap of $2.05 billion, a PE ratio of -12.27 and a beta of 2.40. The company’s 50-day moving average price is $3.70 and its 200 day moving average price is $2.00.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.97 million. On average, sell-side analysts anticipate that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

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.