Ondas Holdings Inc. (NASDAQ:ONDS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.25.

Several equities analysts have commented on ONDS shares. Needham & Company LLC started coverage on shares of Ondas in a research note on Tuesday, August 19th. They set a “buy” rating and a $5.00 target price on the stock. HC Wainwright started coverage on shares of Ondas in a research note on Monday, October 6th. They set a “buy” rating and a $12.00 target price on the stock. Lake Street Capital raised their target price on shares of Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Ondas from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th.

Hedge Funds Weigh In On Ondas

Several hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its stake in shares of Ondas by 154.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company’s stock worth $31,000 after purchasing an additional 9,904 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Ondas in the fourth quarter worth about $31,000. Millennium Management LLC boosted its holdings in shares of Ondas by 150.0% in the fourth quarter. Millennium Management LLC now owns 28,366 shares of the company’s stock worth $73,000 after buying an additional 17,021 shares during the period. Penbrook Management LLC acquired a new position in shares of Ondas in the second quarter worth about $35,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Ondas in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Stock Down 12.1%

ONDS stock opened at $9.22 on Monday. Ondas has a fifty-two week low of $0.57 and a fifty-two week high of $11.70. The firm’s 50-day simple moving average is $6.05 and its 200 day simple moving average is $3.00. The stock has a market cap of $3.22 billion, a PE ratio of -17.73 and a beta of 2.46.

Ondas (NASDAQ:ONDS) last released 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. 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%. Equities analysts forecast that Ondas will post -0.53 EPS for the current fiscal year.

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.