Ondas (NASDAQ:ONDS) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) saw strong trading volume on Thursday following a stronger than expected earnings report. 51,214,778 shares traded hands during trading, an increase of 90% from the previous session’s volume of 26,892,924 shares.The stock last traded at $7.2350 and had previously closed at $5.51.

The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $7.04 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. Ondas has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ONDS shares. 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 research report on Friday, September 12th. Needham & Company LLC started coverage on Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. Zacks Research raised shares of Ondas from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, HC Wainwright initiated coverage on Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Hedge Funds Weigh In On Ondas

Institutional investors have recently added to or reduced their stakes in the stock. RiverGlades Family Offices LLC increased its holdings in Ondas by 54.0% in the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after purchasing an additional 5,400 shares in the last quarter. SBI Securities Co. Ltd. lifted its position 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 purchasing an additional 9,904 shares during the last quarter. HBK Sorce Advisory LLC acquired a new position in shares of Ondas during the third quarter valued at $77,000. SG Americas Securities LLC acquired a new position in shares of Ondas during the 3rd quarter valued at $78,000. Finally, Shikiar Asset Management Inc. bought a new stake in Ondas in the third quarter worth about $85,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Ondas Stock Performance

The company’s 50 day moving average price is $7.37 and its 200-day moving average price is $4.00. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -13.53 and a beta of 2.43.

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.