Ondas (NASDAQ:ONDS) Trading Up 14.9% After Analyst Upgrade

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price shot up 14.9% during trading on Friday after Oppenheimer upgraded the stock from a market perform rating to an outperform rating. Oppenheimer now has a $12.00 price target on the stock. Ondas traded as high as $7.86 and last traded at $7.5350. 68,044,164 shares changed hands during trading, an increase of 145% from the average session volume of 27,823,566 shares. The stock had previously closed at $6.56.

A number of other brokerages also recently commented on ONDS. HC Wainwright initiated coverage on Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target for the company. Needham & Company LLC upped their price objective on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Lake Street Capital boosted their price target 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, Zacks Research upgraded shares of Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.20.

Institutional Investors Weigh In On Ondas

Several large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after acquiring an additional 9,904 shares during the period. XTX Topco Ltd purchased a new position in shares of Ondas in the first quarter worth about $32,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Ondas in the first quarter valued at approximately $34,000. Penbrook Management LLC bought a new stake in shares of Ondas in the second quarter valued at approximately $35,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of Ondas during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Trading Up 9.5%

The company’s fifty day moving average is $7.42 and its 200 day moving average is $4.06. The company has a market capitalization of $2.64 billion, a P/E ratio of -17.95 and a beta of 2.43.

Ondas (NASDAQ:ONDS) last issued its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business 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 122.61%. Ondas has set its FY 2025 guidance at EPS. Equities research analysts predict that Ondas Holdings Inc. will post -0.53 EPS for the current 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.