Ondas Holdings Inc. (NASDAQ:ONDS) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have rated Ondas Holdings Inc. (NASDAQ:ONDS) with a consensus of "Moderate Buy", with an average twelve-month price target of $7.25.
• Recent institutional investments include a 150% increase in stake by Millennium Management LLC, indicating growing interest in the company.
• The company reported a quarterly revenue of $6.27 million, surpassing analysts' expectations of $4.97 million, despite a negative net margin of 300.11%.

Shares of Ondas Holdings Inc. (NASDAQ:ONDS - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.25.

Several research firms have weighed in on ONDS. HC Wainwright began coverage on shares of Ondas in a report on Monday. They issued a "buy" rating and a $12.00 price target on the stock. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Ondas in a report on Saturday, September 27th. Needham & Company LLC started coverage on shares of Ondas in a report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, Lake Street Capital increased their target price on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, September 12th.

Ondas Stock Performance

Shares of ONDS stock opened at $9.91 on Monday. The firm's 50-day moving average is $5.20 and its 200-day moving average is $2.66. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -19.06 and a beta of 2.46. Ondas has a 52-week low of $0.57 and a 52-week high of $10.28.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $6.27 million for the quarter, compared to analysts' expectations of $4.97 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. Sell-side analysts predict that Ondas will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONDS. Millennium Management LLC lifted its stake in Ondas by 150.0% in the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock valued at $73,000 after purchasing an additional 17,021 shares during the last quarter. Two Sigma Investments LP bought a new position in Ondas in the 4th quarter valued at approximately $31,000. Squarepoint Ops LLC bought a new position in Ondas in the 4th quarter valued at approximately $48,000. XML Financial LLC bought a new position in Ondas in the 1st quarter valued at approximately $107,000. Finally, Summit Trail Advisors LLC bought a new position in Ondas in the 1st quarter valued at approximately $187,000. 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.

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