Ondas Holdings Inc. (NASDAQ:ONDS) Stock Has Consensus Target Price of $16.89 According to Brokerages

Key Points

• Analyst sentiment is broadly positive: Ondas has a “Moderate Buy” consensus from 13 analysts, with 11 buy ratings, one hold and one sell. The average 12-month price target is $16.89.
• Shares opened at $5.97, versus a 52-week range of $4.38 to $15.28; the stock’s 50-day and 200-day moving averages were $6.83 and $8.84, respectively.
• In its latest reported quarter, Ondas posted revenue of $83.77 million, above analyst estimates of $67.97 million, but its loss of $0.19 per share was wider than the expected $0.09 loss.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.89.

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Ondas to a "buy" rating in a research report on Monday, November 2nd. Roth Capital reaffirmed a "buy" rating on shares of Ondas in a research note on Tuesday, August 18th. LADENBURG THALM/SH SH lifted their target price on shares of Ondas from $21.50 to $22.75 and gave the stock a "buy" rating in a research note on Monday, August 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of Ondas in a report on Monday, September 14th. Finally, Citigroup reiterated a "market outperform" rating on shares of Ondas in a research report on Monday, October 19th.

Ondas Stock Performance

Shares of NASDAQ ONDS opened at $5.97 on Tuesday. The firm has a market cap of $3.48 billion, a PE ratio of -85.29 and a beta of 3.10. Ondas has a one year low of $4.38 and a one year high of $15.28. The firm has a fifty day moving average of $6.83 and a 200 day moving average of $8.84.

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 the consensus estimate of ($0.09) by ($0.10). The company had revenue of $83.77 million during the quarter, compared to analyst estimates of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. On average, equities analysts predict that Ondas will post -0.47 EPS for the current fiscal year.

Insider Activity

In other Ondas news, CFO Neil Laird sold 4,952 shares of the firm'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 transaction, the chief financial officer directly owned 42,246 shares of the company's stock, valued at $326,984.04. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Cohen sold 7,500 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the transaction, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. This trade represents a 2.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ondas

A number of hedge funds have recently modified their holdings of the company. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD increased its position in Ondas by 6.2% during the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 3,184,058 shares of the company's stock worth $23,339,000 after purchasing an additional 184,518 shares during the last quarter. RFG Advisory LLC boosted its holdings in 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 purchasing an additional 1,012,353 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Ondas in the 2nd quarter valued at about $13,158,000. Bank of America Corp DE boosted its holdings in Ondas by 1,443.9% in the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company's stock valued at $12,700,000 after purchasing an additional 1,313,823 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Ondas by 17.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,156,205 shares of the company's stock valued at $8,475,000 after buying an additional 170,075 shares during the period. Hedge funds and other institutional investors own 37.73% of the company's stock.

About Ondas

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems.

Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks.

Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.

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