Ondas Holdings Inc. (NASDAQ:ONDS) saw a 23.58% surge in its stock price last week, driven by a bullish outlook from Oppenheimer and impressive Q3 earnings. The firm raised its rating to “outperform” and set a $12 price target, citing a 67% upside potential from the closing price of $7.18.

The company’s net loss decreased by 17.7% to $8.78 million, while revenues skyrocketed by 582% to $10.1 million year-on-year. Strong delivery volumes from Iron Drone and Optimus systems, along with recent acquisitions, contributed to the revenue surge.

Adjusted EBITDA loss for Ondas Holdings Inc. (NASDAQ:ONDS) grew by 23% to $8.76 million. The company anticipates higher revenues of $36 million, up from $25 million, driven by core business performance and recent acquisitions.

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Read more at Yahoo Finance: Ondas Holdings (ONDS) Climbs 23% on Bullish Outlook, Q3 Blowout