Ondas Holdings Inc. (NASDAQ:ONDS) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Twelve firms rate Ondas Holdings an average “Moderate Buy,” with 10 buy ratings, one hold and one sell. The average 12-month price target is $16.89.
• Ondas reported mixed quarterly results: Revenue of $83.77 million exceeded expectations of $67.97 million, but adjusted earnings of negative $0.19 per share missed the consensus estimate of negative $0.09.
• Shares remain volatile and below key averages: ONDS opened at $6.35, compared with 50-day and 200-day moving averages of $7.77 and $8.67, respectively. Insiders recently sold shares, while institutional investors own 37.73% of the company.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.89.

ONDS has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Wall Street Zen cut Ondas from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Oppenheimer boosted their price target on Ondas from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Citigroup assumed coverage on Ondas in a research report on Monday, October 5th. They issued a "market outperform" rating on the stock. Finally, Roth Capital reissued a "buy" rating on shares of Ondas in a research note on Tuesday, August 18th.

Ondas Stock Up 3.4%

Shares of NASDAQ ONDS opened at $6.35 on Friday. The firm's fifty day moving average is $7.77 and its 200 day moving average is $8.67. Ondas has a 52 week low of $4.95 and a 52 week high of $15.28. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -90.71 and a beta of 2.92.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The firm had revenue of $83.77 million for 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%. Equities research analysts anticipate that Ondas will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard M. Cohen sold 7,500 shares of the 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the completion of the transaction, the chief financial officer directly owned 42,246 shares of the company's stock, valued at approximately $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ONDS. NFSG Corp lifted its stake in shares of Ondas by 200.0% in the 1st quarter. NFSG Corp now owns 3,000 shares of the company's stock valued at $27,000 after purchasing an additional 2,000 shares during the period. Western Wealth Management LLC bought a new stake in shares of Ondas during the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Ondas by 5,373.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company's stock valued at $28,000 after buying an additional 3,063 shares in the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Ondas during the 1st quarter valued at $35,000. Finally, International Assets Investment Management LLC grew its position in shares of Ondas by 813.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,941 shares of the company's stock worth $44,000 after buying an additional 4,400 shares during the period. Hedge funds and other institutional investors own 37.73% of the company's stock.

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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