Needham & Company LLC Reiterates “Buy” Rating for Ondas (NASDAQ:ONDS)

Ondas (NASDAQ:ONDS)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports. They currently have a $19.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 162.25% from the company’s current price.

Other research analysts also recently issued reports about the company. Oppenheimer boosted their target price on Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Roth Capital reaffirmed a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. Zacks Research upgraded Ondas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. LADENBURG THALM/SH SH upped their price objective on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Wall Street Zen cut Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.

Ondas Trading Up 0.2%

Ondas stock traded up $0.01 during trading hours on Monday, reaching $7.25. 63,204,733 shares of the company were exchanged, compared to its average volume of 82,716,578. Ondas has a 12 month low of $4.95 and a 12 month high of $15.28. The stock has a 50-day moving average of $7.98 and a 200 day moving average of $9.19. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -103.36 and a beta of 2.74.

Ondas (NASDAQ:ONDS) last posted 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 business had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. As a group, research analysts forecast that Ondas will post -0.47 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard Cohen sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NFSG Corp raised its stake in shares of Ondas by 200.0% during the first quarter. NFSG Corp now owns 3,000 shares of the company’s stock valued at $27,000 after acquiring an additional 2,000 shares during the last quarter. Western Wealth Management LLC bought a new stake in Ondas in the first quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in Ondas by 5,373.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after buying an additional 3,063 shares during the period. AdvisorNet Financial Inc bought a new position in shares of Ondas in the 1st quarter worth $35,000. Finally, IFP Advisors Inc grew its holdings in shares of Ondas by 231.4% during the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock valued at $32,000 after buying an additional 2,892 shares during the last quarter. Institutional investors own 37.73% of the company’s stock.

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.