Ondas (NASDAQ:ONDS) Shares Gap Down – Here’s Why

Ondas Holdings Inc. (NASDAQ:ONDS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $7.84, but opened at $7.47. Ondas shares last traded at $7.8330, with a volume of 26,684,561 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on ONDS. Zacks Research upgraded Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Oppenheimer raised 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, November 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. HC Wainwright started coverage on shares of Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Lake Street Capital lifted 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. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.20.

Ondas Stock Up 0.3%

The business has a 50 day moving average price of $7.48 and a two-hundred day moving average price of $4.19. The stock has a market cap of $2.90 billion, a P/E ratio of -19.49 and a beta of 2.43.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $10.10 million during the quarter, compared to the consensus estimate of $7.04 million. Ondas had a negative return on equity of 35.16% and a negative net margin of 192.60%. Ondas has set its FY 2025 guidance at EPS. On average, research analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Ondas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its stake in Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after purchasing an additional 9,904 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ondas in the first quarter worth about $32,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ondas in the first quarter worth about $34,000. Penbrook Management LLC purchased a new stake in shares of Ondas in the second quarter worth about $35,000. Finally, Exencial Wealth Advisors LLC bought a new position in Ondas during the second quarter valued at approximately $36,000. 37.73% of the stock is currently owned by 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.