Ondas (NASDAQ:ONDS) Stock Rated "Market Outperform" in New Coverage at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of Ondas with a “Market Outperform” rating and a $14 price target, implying approximately 93% upside from the reported $7.24 share price.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, one rates it Hold and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $16.89.
• Ondas reported quarterly revenue of $83.77 million, above the $67.97 million consensus estimate, but its adjusted loss of $0.19 per share missed expectations by $0.10. Insiders recently sold shares, while institutional investors and hedge funds own 37.73% of the company.

Analysts at Citizens Jmp began coverage on shares of Ondas (NASDAQ:ONDS - Get Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a "market outperform" rating and a $14.00 price target on the stock. Citizens Jmp's price target would suggest a potential upside of 93.37% from the company's current price.

Other research analysts also recently issued reports about the company. Oppenheimer lifted their price target on Ondas from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Wall Street Zen downgraded shares of Ondas from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Roth Capital reaffirmed a "buy" rating on shares of Ondas in a research report on Tuesday, August 18th. Finally, LADENBURG THALM/SH SH upped their target price on shares of Ondas from $21.50 to $22.75 and gave the company a "buy" rating in a research note on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.89.

Ondas Price Performance

ONDS stock opened at $7.24 on Monday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -103.43 and a beta of 2.92. The company has a 50-day moving average of $7.99 and a two-hundred day moving average of $8.89. Ondas has a 52-week low of $4.95 and a 52-week high of $15.28.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) 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 business had revenue of $83.77 million during the quarter, compared to the consensus estimate of $67.97 million. Equities analysts expect that Ondas will post -0.47 EPS for the current fiscal year.

Insider Activity at Ondas

In other news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the business's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the sale, the chief financial officer owned 42,246 shares in the company, valued at approximately $326,984.04. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.67% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in Ondas by 9,274.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company's stock worth $33,832,000 after buying an additional 3,429,398 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Ondas by 57.0% in the 2nd quarter. RFG Advisory LLC now owns 2,787,202 shares of the company's stock valued at $22,967,000 after buying an additional 1,012,353 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Ondas during the 2nd quarter worth about $13,158,000. Bank of America Corp DE lifted its holdings in shares of Ondas by 1,443.9% during the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company's stock worth $12,700,000 after acquiring an additional 1,313,823 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its holdings in shares of Ondas by 63.0% during 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 acquiring an additional 393,133 shares during the period. 37.73% of the stock is currently owned by institutional investors and hedge funds.

About Ondas

Ondas Holdings Inc NASDAQ: ONDS develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.

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