Ondas (NASDAQ:ONDS) Downgraded by Zacks Research to “Hold”

Ondas (NASDAQ:ONDS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on ONDS. Weiss Ratings reaffirmed 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. HC Wainwright started coverage on Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC boosted their price objective on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Friday, November 14th. Five 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, Ondas currently has an average rating of “Moderate Buy” and an average target price of $9.20.

Ondas Trading Down 4.3%

ONDS stock opened at $7.50 on Tuesday. The stock has a market cap of $2.76 billion, a P/E ratio of -18.75 and a beta of 2.43. Ondas has a twelve month low of $0.57 and a twelve month high of $11.70. The company’s 50 day moving average is $7.52 and its two-hundred day moving average is $4.22.

Ondas (NASDAQ:ONDS) last issued its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The company had revenue of $10.10 million during the quarter, compared to analyst estimates of $7.04 million. Ondas has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Ondas will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Ondas

Large investors have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. grew its position in Ondas by 5.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 645,510 shares of the company’s stock valued at $691,000 after buying an additional 31,219 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Ondas in the 1st quarter worth $62,000. SLT Holdings LLC purchased a new stake in shares of Ondas in the first quarter valued at about $62,000. XTX Topco Ltd acquired a new position in shares of Ondas during the first quarter worth about $32,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Ondas during the first quarter worth about $34,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

About Ondas

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.