Ondas (NASDAQ:ONDS) Earns Buy Rating from Needham & Company LLC

Key Points

• Needham & Company reiterated a “Buy” rating on Ondas and set a $19 price target, implying 162.25% potential upside from the stock’s $7.25 price. The analyst consensus is “Moderate Buy,” with an average target of $17.18.
• Ondas reported a quarterly loss of $0.19 per share, missing the $0.09 consensus estimate, although revenue of $83.77 million exceeded expectations of $67.97 million. Analysts expect a full-year loss of approximately $0.47 per share.
• The stock traded near $7.25, well below its 52-week high of $15.28, while institutional investors owned 37.73% of shares. Director Richard Cohen sold 7,500 shares under a pre-arranged Rule 10b5-1 plan.

Ondas (NASDAQ:ONDS - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC's price target suggests a potential upside of 162.25% from the stock's current price.

Several other equities research analysts have also commented on the stock. Oppenheimer lifted their price target on shares of Ondas from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Roth Capital reiterated a "buy" rating on shares of Ondas in a research report on Tuesday, August 18th. Wall Street Zen downgraded Ondas from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. LADENBURG THALM/SH SH boosted their price objective on shares of Ondas from $21.50 to $22.75 and gave the stock a "buy" rating in a report on Monday, August 17th. Finally, Zacks Research raised Ondas from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.18.

Ondas Trading Up 0.2%

ONDS traded up $0.01 on Monday, hitting $7.25. The company had a trading volume of 63,204,733 shares, compared to its average volume of 82,716,578. The company's fifty day moving average price is $7.98 and its 200 day moving average price is $9.19. Ondas has a 1 year low of $4.95 and a 1 year high of $15.28. The firm has a market cap of $4.14 billion, a P/E ratio of -103.36 and a beta of 2.74.

Ondas (NASDAQ:ONDS - Get Free Report) last announced 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). The firm had revenue of $83.77 million during the quarter, compared to analysts' expectations of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. On average, analysts predict that Ondas will post -0.47 earnings per share for the current year.

Insider Activity at Ondas

In other Ondas news, Director Richard Cohen sold 7,500 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were 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 $2,346,050.56. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.67% of the company's stock.

Institutional Trading of Ondas

Institutional investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd bought a new position in shares of Ondas during the second quarter worth about $330,000. WINTON GROUP Ltd bought a new position in shares of Ondas in the second quarter valued at approximately $2,294,000. RFG Advisory LLC boosted its stake in Ondas by 57.0% during the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company's stock valued at $22,967,000 after purchasing an additional 1,012,353 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Ondas by 47.4% during the second quarter. NewEdge Advisors LLC now owns 43,484 shares of the company's stock worth $358,000 after acquiring an additional 13,993 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD raised its holdings in shares of Ondas by 63.0% in the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company's stock worth $8,380,000 after purchasing an additional 393,133 shares in the last quarter. Institutional investors own 37.73% of the company's stock.

Ondas Company Profile

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.

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