Ondas (NASDAQ:ONDS) Hits New 52-Week High on Analyst Upgrade

Ondas Holdings Inc. (NASDAQ:ONDS) reached a new 52-week high on Wednesday after Lake Street Capital raised their price target on the stock from $2.50 to $5.00. Lake Street Capital currently has a buy rating on the stock. Ondas traded as high as $4.39 and last traded at $4.29, with a volume of 71726562 shares changing hands. The stock had previously closed at $3.43.

Separately, Wall Street Zen raised Ondas from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th.

Institutional Trading of Ondas

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Ondas by 119.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after purchasing an additional 6,200 shares during the period. Two Sigma Investments LP bought a new stake in shares of Ondas during the 4th quarter valued at $31,000. SBI Securities Co. Ltd. raised its position in shares of 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 purchasing an additional 9,904 shares during the period. XTX Topco Ltd bought a new stake in shares of Ondas during the 1st quarter valued at $32,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Ondas during the 1st quarter valued at $34,000. 37.73% of the stock is currently owned by institutional investors.

Ondas Stock Down 17.9%

The stock has a market capitalization of $632.05 million, a P/E ratio of -6.77 and a beta of 2.29. The company’s 50-day moving average price is $2.13 and its 200 day moving average price is $1.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.86.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Ondas had a negative return on equity of 252.20% and a negative net margin of 300.11%. The business had revenue of $4.25 million during the quarter, compared to the consensus estimate of $4.94 million. As a group, equities analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share 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.