Ondas (NASDAQ:ONDS) Earns Buy Rating from Analysts at HC Wainwright

Key Points

• Ondas Holdings Inc. has been upgraded to a "strong-buy" rating by HC Wainwright, reflecting growing confidence in the company's market position.
• The stock currently has a market cap of $3.42 billion and has seen significant fluctuations, with a 1-year range between $0.57 and $11.63.
• Institutional investors and hedge funds collectively own 37.73% of Ondas, indicating a notable interest from major financial players in the company's potential.

Equities researchers at HC Wainwright started coverage on shares of Ondas (NASDAQ:ONDS - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 12.57% from the stock's previous close.

ONDS has been the topic of a number of other research reports. Needham & Company LLC began coverage on shares of Ondas in a report on Tuesday, August 19th. They set a "buy" rating and a $5.00 price target on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ondas in a research report on Saturday, September 27th. Lake Street Capital raised their target price on shares of Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Ondas Stock Performance

NASDAQ ONDS opened at $10.66 on Monday. The company has a market capitalization of $3.42 billion, a PE ratio of -20.50 and a beta of 2.46. The company has a 50-day simple moving average of $5.38 and a 200 day simple moving average of $2.73. Ondas has a 52-week low of $0.57 and a 52-week high of $11.63.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. As a group, analysts forecast that Ondas will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC purchased a new stake in shares of Ondas in the second quarter valued at $14,479,000. AWM Investment Company Inc. acquired a new stake in shares of Ondas during the 2nd quarter worth approximately $11,123,000. Cresset Asset Management LLC raised its holdings in shares of Ondas by 263.5% during the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company's stock valued at $8,962,000 after buying an additional 3,383,629 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Ondas during the second quarter valued at about $3,086,000. Finally, HRT Financial LP acquired a new stake in Ondas in the second quarter worth approximately $2,244,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

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.