Ondas (NASDAQ:ONDS) Sees Unusually-High Trading Volume – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) saw strong trading volume on Friday . 25,689,923 shares were traded during trading, an increase of 24% from the previous session’s volume of 20,664,578 shares.The stock last traded at $9.48 and had previously closed at $9.21.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a report on Saturday, September 27th. Wall Street Zen upgraded Ondas from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Needham & Company LLC assumed coverage on Ondas in a report on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price for the company. Finally, Lake Street Capital increased their target price on Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a report on Friday, September 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Ondas presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

Ondas Stock Performance

The stock has a market cap of $3.18 billion, a P/E ratio of -19.06 and a beta of 2.46. The firm has a 50-day moving average price of $5.20 and a 200-day moving average price of $2.65.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The company had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. On average, research analysts predict that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. increased its position in 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 buying an additional 9,904 shares in the last quarter. Two Sigma Investments LP bought a new position in Ondas during the 4th quarter valued at approximately $31,000. Millennium Management LLC increased its position 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 buying an additional 17,021 shares in the last quarter. Penbrook Management LLC bought a new position in Ondas during the 2nd quarter valued at approximately $35,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Ondas in the fourth quarter worth $48,000. Institutional investors own 37.73% of the company’s stock.

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.