Ondas (NASDAQ:ONDS) Now Covered by Needham & Company LLC

Key Points

• Ondas (NASDAQ:ONDS) has been upgraded by Needham & Company LLC to a "moderate buy" rating, indicating growing confidence among analysts in the company's stock performance.
• The stock currently has an average rating of "Buy" with a consensus price target of $4.67, reflecting positive momentum following recent upgrades from multiple firms.
• Ondas reported earnings that beat estimates with a revenue of $6.27 million during the last quarter, showcasing its potential for growth despite a negative return on equity.

Needham & Company LLC initiated coverage on shares of Ondas (NASDAQ:ONDS - Free Report) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $5.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Lake Street Capital raised their price objective on shares of Ondas from $2.50 to $5.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ondas has an average rating of "Buy" and a consensus price target of $4.67.

Ondas Price Performance

Shares of ONDS stock traded up $0.2550 on Tuesday, hitting $4.7450. The stock had a trading volume of 34,261,353 shares, compared to its average volume of 15,599,703. The business has a 50 day moving average of $2.44 and a 200 day moving average of $1.54. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -9.18 and a beta of 2.29. Ondas has a 12-month low of $0.57 and a 12-month high of $4.90.

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

Institutional Investors Weigh In On Ondas

A number of hedge funds have recently made changes to their positions in ONDS. Geode Capital Management LLC lifted its holdings in shares of Ondas by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 726,165 shares of the company's stock worth $1,859,000 after acquiring an additional 103,570 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Ondas by 119.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock worth $29,000 after acquiring an additional 6,200 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ondas in the 4th quarter worth approximately $235,000. Marshall Wace LLP bought a new stake in shares of Ondas in the 4th quarter worth approximately $831,000. Finally, Jane Street Group LLC bought a new stake in shares of Ondas in the 4th quarter worth approximately $1,050,000. 37.73% of the stock is currently owned by institutional investors.

Ondas Company Profile

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.