Ondas (NASDAQ:ONDS) Shares Gap Up – Should You Buy?

Ondas Holdings Inc. (NASDAQ:ONDS)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.81, but opened at $6.37. Ondas shares last traded at $6.0950, with a volume of 21,577,188 shares.

Analysts Set New Price Targets

Several analysts have commented on ONDS shares. Zacks Research upgraded shares of Ondas from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Needham & Company LLC started coverage on shares of Ondas in a report on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price for the company. Lake Street Capital increased their target price on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, HC Wainwright assumed coverage on shares of Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Ondas Stock Performance

The firm’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $3.91. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -11.76 and a beta of 2.44.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.97 million. As a group, sell-side analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its holdings in Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock valued at $31,000 after buying an additional 9,904 shares during the period. XTX Topco Ltd acquired a new stake in Ondas in the first quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ondas during the 1st quarter worth $34,000. Penbrook Management LLC acquired a new position in shares of Ondas during the second quarter worth $35,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Ondas during the second quarter worth $36,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

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.