Ondas (NASDAQ:ONDS) Upgraded at Oppenheimer

Ondas (NASDAQ:ONDS) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday.

Several other brokerages have also recently commented on ONDS. Zacks Research raised shares of Ondas from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. HC Wainwright assumed coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a report on Wednesday, October 8th. Lake Street Capital upped their target price on Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Needham & Company LLC boosted their price target on Ondas from $9.00 to $10.00 and gave the company 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Ondas Stock Up 10.7%

NASDAQ:ONDS traded up $0.70 on Friday, reaching $7.26. The stock had a trading volume of 16,555,544 shares, compared to its average volume of 27,644,098. Ondas has a 1-year low of $0.57 and a 1-year high of $11.70. The company has a market capitalization of $2.67 billion, a P/E ratio of -13.99 and a beta of 2.43. The stock has a fifty day moving average price of $7.39 and a 200-day moving average price of $4.01.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $6.27 million during the quarter, compared to analysts’ expectations of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. Sell-side analysts predict that Ondas will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ondas

A number of large investors have recently bought and sold shares of the company. RiverGlades Family Offices LLC raised its position in shares of Ondas by 54.0% in the 3rd quarter. RiverGlades Family Offices LLC now owns 15,400 shares of the company’s stock valued at $119,000 after buying an additional 5,400 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Ondas by 154.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after buying an additional 9,904 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Ondas by 61.5% in the third quarter. Beaird Harris Wealth Management LLC now owns 26,250 shares of the company’s stock valued at $203,000 after buying an additional 10,000 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in Ondas in the third quarter valued at about $77,000. Finally, SG Americas Securities LLC acquired a new position in Ondas during the third quarter worth about $78,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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.