Ondas (NASDAQ:ONDS) Announces Earnings Results

Ondas (NASDAQ:ONDS) released its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01), Zacks reports. Ondas had a negative net margin of 192.60% and a negative return on equity of 122.61%. The business had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. Ondas updated its FY 2025 guidance to EPS.

Ondas Stock Up 9.5%

ONDS stock traded up $0.62 during midday trading on Friday, reaching $7.18. The company had a trading volume of 183,655,398 shares, compared to its average volume of 79,190,416. Ondas has a 1-year low of $0.57 and a 1-year high of $11.70. The stock has a 50 day moving average price of $7.39 and a 200-day moving average price of $4.01.

Analyst Upgrades and Downgrades

ONDS has been the topic of a number of research analyst reports. Zacks Research upgraded Ondas from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Oppenheimer raised shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. Lake Street Capital increased their price target on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Needham & Company LLC raised their price objective on shares of Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ondas presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.20.

Institutional Trading of Ondas

Several large investors have recently made changes to their positions in ONDS. Goldman Sachs Group Inc. increased its stake in Ondas by 444.4% in the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock valued at $120,000 after acquiring an additional 91,732 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Ondas during the 2nd quarter worth $152,000. Beaird Harris Wealth Management LLC boosted its stake in Ondas by 61.5% in the third quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after buying an additional 10,000 shares in the last quarter. Victory Capital Management Inc. raised its stake in Ondas by 102.7% during the third quarter. Victory Capital Management Inc. now owns 32,484 shares of the company’s stock worth $251,000 after acquiring an additional 16,458 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Ondas in the third quarter worth about $835,000. 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.