Ondas (NASDAQ:ONDS) Coverage Initiated at Needham & Company LLC
Needham & Company LLC has initiated coverage on Ondas (NASDAQ:ONDS) with a "moderate buy" rating and a price target of $5.00, indicating a potential upside of 55.04%. The stock has seen a recent decline of 10.2%, trading at $3.2250. Analysts have an average rating of "Buy" with a target price of $4.67. Ondas reported a quarterly EPS of ($0.08), exceeding estimates, with revenue of $6.27 million. Institutional investors hold 37.73% of the company's stock, which focuses on private wireless and automated data solutions.
Stock analysts at Needham & Company LLC started coverage on shares of Ondas (NASDAQ:ONDS - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $5.00 price target on the stock. Needham & Company LLC's price target would indicate a potential upside of 55.04% from the company's previous close.
A number of other research firms have also commented on ONDS. Wall Street Zen raised shares of Ondas from a "sell" rating to a "hold" rating in a research note 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 research note on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $4.67.
View Our Latest Research Report on Ondas
Ondas Stock Down 10.2%
NASDAQ:ONDS traded down $0.3650 during trading hours on Tuesday, reaching $3.2250. 11,049,609 shares of the company's stock were exchanged, compared to its average volume of 14,853,051. The company has a market capitalization of $706.85 million, a P/E ratio of -6.20 and a beta of 2.29. Ondas has a 12 month low of $0.57 and a 12 month high of $4.39. The business's 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $1.49.
Ondas (NASDAQ:ONDS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.27 million during the quarter, compared to analyst estimates of $4.97 million. As a group, sell-side 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 hedge funds and other institutional investors have recently added to or reduced their stakes in ONDS. Marex Group plc bought a new position in shares of Ondas during the 2nd quarter valued at $2,112,000. Shellback Capital LP bought a new position in shares of Ondas during the 2nd quarter valued at $1,470,000. Manatuck Hill Partners LLC bought a new position in shares of Ondas during the 2nd quarter valued at $1,152,000. HRT Financial LP bought a new position in shares of Ondas during the 2nd quarter valued at $2,244,000. Finally, Bluefin Capital Management LLC bought a new position in shares of Ondas during the 2nd quarter valued at $80,000. Hedge funds and other institutional investors own 37.73% of the company's stock.
Ondas Company Profile
(Get Free Report)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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