Ondas (NASDAQ:ONDS) Releases Earnings Results, Misses Estimates By $0.01 EPS

Ondas (NASDAQ:ONDS) issued its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Zacks reports. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%.The business had revenue of $10.10 million for the quarter, compared to analyst estimates of $7.04 million. Ondas updated its FY 2025 guidance to EPS.

Ondas Stock Performance

ONDS stock traded up $0.62 during mid-day trading on Friday, reaching $7.18. The company had a trading volume of 183,655,398 shares, compared to its average volume of 28,434,512. The firm has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $4.01. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -13.81 and a beta of 2.43. Ondas has a fifty-two week low of $0.57 and a fifty-two week high of $11.70.

Institutional Trading of Ondas

A number of large investors have recently made changes to their positions in ONDS. Davidson Kempner Capital Management LP purchased a new position in Ondas in the third quarter worth approximately $2,702,000. Two Sigma Investments LP raised its holdings in shares of Ondas by 1,325.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,568,238 shares of the company’s stock valued at $35,267,000 after purchasing an additional 4,247,859 shares in the last quarter. Soviero Asset Management LP purchased a new stake in shares of Ondas during the 3rd quarter worth $1,004,000. Squarepoint Ops LLC lifted its position in shares of Ondas by 26.3% during the 3rd quarter. Squarepoint Ops LLC now owns 450,255 shares of the company’s stock worth $3,476,000 after purchasing an additional 93,834 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Ondas during the third quarter worth $835,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. HC Wainwright started coverage on shares of Ondas in a report on Monday, October 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Oppenheimer upgraded Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Friday. Lake Street Capital lifted their price objective on Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Needham & Company LLC increased their target price on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ondas presently has a consensus rating of “Moderate Buy” and an average target price of $9.20.

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.