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

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on ONDS shares. Weiss Ratings reiterated 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 report on Saturday, July 12th. HC Wainwright started coverage on Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 price objective for the company. Zacks Research raised Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Needham & Company LLC initiated coverage on Ondas in a research report on Tuesday, August 19th. They issued a “buy” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.25.

Ondas Stock Up 10.7%

The stock’s 50 day moving average price is $7.35 and its two-hundred day moving average price is $3.89. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -11.17 and a beta of 2.43.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.97 million. On average, equities analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HBK Sorce Advisory LLC bought a new stake in Ondas in the 3rd quarter valued at $77,000. SG Americas Securities LLC bought a new stake in Ondas in the third quarter valued at about $78,000. Shikiar Asset Management Inc. bought a new stake in Ondas in the third quarter valued at about $85,000. Busey Bank acquired a new position in Ondas in the third quarter worth about $88,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Ondas during the third quarter worth about $90,000. 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.