Ondas’ (ONDS) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Ondas (NASDAQ:ONDS) in a report published on Monday,Benzinga reports. The firm currently has a $19.00 price target on the stock.

ONDS has been the subject of several other research reports. Zacks Research raised Ondas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital reiterated a “buy” rating on shares of Ondas in a research report on Tuesday, August 18th. Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Oppenheimer raised their price target on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Stock Down 0.6%

NASDAQ ONDS opened at $7.20 on Monday. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -102.86 and a beta of 2.74. Ondas has a twelve month low of $4.95 and a twelve month high of $15.28. The business’s fifty day moving average is $7.96 and its 200 day moving average is $9.12.

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

Insiders Place Their Bets

In other news, Director Richard Cohen sold 7,500 shares of Ondas 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 completion of the transaction, the director directly owned 261,836 shares of the company’s stock, valued at approximately $2,346,050.56. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Ondas

A number of hedge funds have recently added to or reduced their stakes in ONDS. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Ondas in the fourth quarter valued at approximately $6,734,000. CI Investments Inc. bought a new position in shares of Ondas in the 1st quarter worth $4,255,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Ondas by 664.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 129,481 shares of the company’s stock worth $1,171,000 after purchasing an additional 112,534 shares in the last quarter. Royal Bank of Canada grew its position in Ondas by 160.1% in the 1st quarter. Royal Bank of Canada now owns 384,656 shares of the company’s stock valued at $3,477,000 after purchasing an additional 236,782 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Ondas in the 1st quarter valued at $5,000,000. 37.73% of the stock is currently owned by institutional investors.

About Ondas

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous systems and private wireless network technologies for industrial, government and critical-infrastructure applications. Its businesses are focused on collecting and transmitting data in environments where conventional communications or manually operated systems may be limited.

Through its autonomous systems activities, including American Robotics and other related platforms, Ondas provides autonomous drone solutions for applications such as agriculture, infrastructure inspection, public safety and security.