Ondas' (ONDS) "Sell (E+)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Ondas (ONDS) after analysts issued various ratings and price targets, including a new "buy" rating from Lake Street Capital with a target increased to $8.00.
• Ondas stock opened at $11.26 with a 52-week range from $0.57 to $11.70 and currently has a market cap of $3.71 billion.
• The company recently reported earnings with an EPS of ($0.08), beating the consensus estimate, and had revenues of $6.27 million for the quarter, surpassing expectations of $4.97 million.

Ondas (NASDAQ:ONDS - Get Free Report)'s stock had its "sell (e+)" rating restated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the company. Lake Street Capital upped their price target on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. HC Wainwright assumed coverage on Ondas in a report on Monday. They set a "buy" rating and a $12.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on Ondas in a report on Tuesday, August 19th. They set a "buy" rating and a $5.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Ondas Stock Up 1.5%

Ondas stock opened at $11.26 on Wednesday. Ondas has a 52 week low of $0.57 and a 52 week high of $11.70. The business has a 50-day simple moving average of $5.75 and a 200 day simple moving average of $2.85. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -21.65 and a beta of 2.46.

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

Hedge Funds Weigh In On Ondas

Several hedge funds and other institutional investors have recently modified their holdings of ONDS. GatePass Capital LLC bought a new position in Ondas in the 2nd quarter worth $192,000. Squarepoint Ops LLC grew its position in shares of Ondas by 467.6% during the second quarter. Squarepoint Ops LLC now owns 356,421 shares of the company's stock valued at $684,000 after purchasing an additional 293,628 shares in the last quarter. Marex Group plc purchased a new position in shares of Ondas during the second quarter valued at about $2,112,000. Shellback Capital LP purchased a new position in shares of Ondas during the second quarter valued at about $1,470,000. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Ondas during the second quarter valued at about $1,152,000. 37.73% of the stock is 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.

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