Ondas (NASDAQ:ONDS) Trading Up 8.9% – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price rose 8.9% on Friday . The company traded as high as $5.76 and last traded at $5.7150. Approximately 61,953,581 shares changed hands during mid-day trading, an increase of 142% from the average daily volume of 25,619,199 shares. The stock had previously closed at $5.25.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ONDS shares. Needham & Company LLC assumed 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. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. Wall Street Zen upgraded Ondas from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Zacks Research upgraded Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, HC Wainwright started coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Ondas Stock Up 9.8%

The company has a 50 day simple moving average of $7.35 and a 200 day simple moving average of $3.84. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -11.01 and a beta of 2.43.

Ondas (NASDAQ:ONDS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.97 million. On average, research analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Several large investors have recently added to or reduced their stakes in ONDS. Vanguard Group Inc. lifted its stake in shares of Ondas by 109.9% during the third quarter. Vanguard Group Inc. now owns 13,415,432 shares of the company’s stock worth $103,567,000 after purchasing an additional 7,024,549 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ondas by 3,558,617.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,064,056 shares of the company’s stock valued at $15,935,000 after buying an additional 2,063,998 shares during the period. Caprock Group LLC purchased a new stake in shares of Ondas during the 3rd quarter valued at about $154,000. Stratos Wealth Partners LTD. acquired a new position in Ondas during the 3rd quarter worth approximately $94,000. Finally, Baader Bank Aktiengesellschaft boosted its holdings in Ondas by 270.7% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 80,001 shares of the company’s stock worth $618,000 after acquiring an additional 58,421 shares during the period. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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.