Ondas (NASDAQ:ONDS) Shares Gap Up – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.81, but opened at $6.37. Ondas shares last traded at $6.0950, with a volume of 21,577,188 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ONDS shares. Zacks Research upgraded Ondas from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. HC Wainwright started coverage on shares of Ondas in a report on Monday, October 6th. They set a “buy” rating and a $12.00 target price on the stock. Needham & Company LLC started coverage on shares of Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price on the stock. Finally, Lake Street Capital upped 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Ondas Stock Performance

The firm has a market capitalization of $2.23 billion, a P/E ratio of -11.76 and a beta of 2.44. The business’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $3.91.

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

Hedge Funds Weigh In On Ondas

Several hedge funds have recently modified their holdings of ONDS. SBI Securities Co. Ltd. grew 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 worth $31,000 after purchasing an additional 9,904 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Ondas during the first quarter worth $32,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ondas during the first quarter valued at $34,000. Penbrook Management LLC purchased a new stake in shares of Ondas during the second quarter valued at $35,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Ondas in the 2nd quarter valued at $36,000. 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.