Ondas (NASDAQ:ONDS) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Ondas (NASDAQ:ONDS) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

Several other equities research analysts have also recently weighed in on ONDS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ondas in a research report on Saturday, September 27th. Wall Street Zen raised shares of Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Lake Street Capital upped their price target on shares of Ondas from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Needham & Company LLC assumed coverage on shares of Ondas in a research report on Tuesday, August 19th. They issued a “buy” rating and a $5.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Ondas Price Performance

Ondas stock opened at $10.66 on Monday. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -20.50 and a beta of 2.46. Ondas has a 1 year low of $0.57 and a 1 year high of $11.63. The firm has a 50-day moving average of $5.38 and a two-hundred day moving average of $2.73.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONDS. Hood River Capital Management LLC acquired a new position in Ondas during the 2nd quarter valued at approximately $14,479,000. AWM Investment Company Inc. acquired a new position in Ondas during the 2nd quarter valued at approximately $11,123,000. Cresset Asset Management LLC increased its stake in Ondas by 263.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after purchasing an additional 3,383,629 shares in the last quarter. Sei Investments Co. acquired a new position in Ondas during the 2nd quarter valued at approximately $3,086,000. Finally, HRT Financial LP acquired a new position in Ondas during the 2nd quarter valued at approximately $2,244,000. Institutional investors and hedge funds own 37.73% of the company’s stock.

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.