Ondas (NASDAQ:ONDS) Hits New 1-Year High – What’s Next?

Ondas Holdings Inc. (NASDAQ:ONDS) shares hit a new 52-week high on Monday . The company traded as high as $6.50 and last traded at $6.35, with a volume of 22207715 shares trading hands. The stock had previously closed at $5.63.

Analysts Set New Price Targets

Several research analysts have commented on ONDS shares. Lake Street Capital lifted their price target on shares of Ondas from $2.50 to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Needham & Company LLC began coverage on shares of Ondas in a research note on Tuesday, August 19th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Ondas from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ondas currently has a consensus rating of “Buy” and a consensus price target of $4.67.

Ondas Trading Up 13.1%

The stock has a market cap of $1.40 billion, a P/E ratio of -12.34 and a beta of 2.40. The stock’s fifty day moving average price is $3.20 and its 200 day moving average price is $1.79.

Ondas (NASDAQ:ONDS) last announced 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. 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 for the quarter, compared to analysts’ expectations of $4.97 million. As a group, sell-side analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Ondas

Several large investors have recently modified their holdings of ONDS. Hood River Capital Management LLC purchased a new position in shares of Ondas in the 2nd quarter worth about $14,479,000. AWM Investment Company Inc. purchased a new position in Ondas in the 2nd quarter worth about $11,123,000. Cresset Asset Management LLC raised its position in Ondas by 263.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock worth $8,962,000 after buying an additional 3,383,629 shares during the last quarter. Sei Investments Co. purchased a new position in Ondas in the 2nd quarter worth about $3,086,000. Finally, HRT Financial LP purchased a new position in Ondas in the 2nd quarter worth about $2,244,000. Hedge funds and other 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.