Ondas (NASDAQ:ONDS) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of Ondas (NASDAQ:ONDS) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set an “outperform” rating and a $14.00 price target on the stock. Citizens Jmp’s price target indicates a potential upside of 98.44% from the stock’s previous close.

Several other research firms also recently weighed in on ONDS. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Ondas in a report on Monday, September 14th. Weiss Ratings downgraded Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Roth Capital reaffirmed a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Wall Street Zen downgraded Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Citigroup started coverage on Ondas in a report on Monday. They set a “market outperform” rating on the stock. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

Ondas Price Performance

Shares of NASDAQ ONDS traded down $0.36 during mid-day trading on Monday, hitting $7.06. 20,384,764 shares of the stock traded hands, compared to its average volume of 80,661,969. Ondas has a twelve month low of $4.95 and a twelve month high of $15.28. The company has a market cap of $4.11 billion, a PE ratio of -100.83 and a beta of 2.92. The firm has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $8.84.

Ondas (NASDAQ:ONDS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The firm had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. On average, equities research analysts anticipate that Ondas will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Ondas

In other news, Director Richard M. Cohen sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the transaction, the director directly owned 261,836 shares of the company’s stock, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at $326,984.04. This represents a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its position in Ondas by 9,274.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock valued at $33,832,000 after buying an additional 3,429,398 shares in the last quarter. RFG Advisory LLC bought a new stake in Ondas in the 1st quarter valued at about $16,045,000. Bank of New York Mellon Corp bought a new stake in Ondas in the 2nd quarter valued at about $13,158,000. Bank of America Corp DE increased its position in Ondas by 1,443.9% in the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock valued at $12,700,000 after buying an additional 1,313,823 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in Ondas in the 1st quarter valued at about $5,000,000. 37.73% of the stock is owned by institutional investors and hedge funds.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.