Ondas (NASDAQ:ONDS) Upgraded to Strong-Buy at Zacks Research

Key Points

• Ondas was upgraded to a "strong-buy" rating by Zacks Research, reflecting increasing confidence in the stock's performance.
• Multiple research firms, including HC Wainwright and Needham & Company, have initiated coverage with "buy" ratings and price targets of $12.00 and $5.00, respectively.
• As of now, Ondas has a consensus rating of "Moderate Buy" and a target price of $7.25, with notable recent institutional investments increasing their stakes in the company.

Ondas (NASDAQ:ONDS - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. HC Wainwright began coverage on shares of Ondas in a research note on Monday, October 6th. They set a "buy" rating and a $12.00 price target on the stock. Needham & Company LLC began coverage on Ondas in a report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price objective on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Ondas in a research note on Wednesday, October 8th. Lake Street Capital raised their price target on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a report on Friday, September 12th. Finally, Wall Street Zen raised 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, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Ondas currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Ondas Price Performance

Shares of NASDAQ ONDS opened at $6.92 on Monday. The stock has a fifty day moving average price of $6.81 and a 200 day moving average price of $3.36. Ondas has a 1-year low of $0.57 and a 1-year high of $11.70. The company has a market cap of $2.42 billion, a PE ratio of -13.31 and a beta of 2.46.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company 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%. Analysts anticipate that Ondas will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ondas

A number of large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its position in Ondas by 154.9% during the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock worth $31,000 after acquiring an additional 9,904 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Ondas during the 1st quarter worth approximately $32,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Ondas during the 1st quarter worth approximately $34,000. Penbrook Management LLC purchased a new stake in Ondas in the 2nd quarter valued at approximately $35,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in Ondas in the 2nd quarter valued at approximately $36,000. 37.73% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.