Ondas (NASDAQ:ONDS) Price Target Raised to $4.00

Ondas (NASDAQ:ONDS) had its target price hoisted by Northland Securities from $1.50 to $4.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Ondas Stock Down 8.2 %

Shares of NASDAQ ONDS opened at $2.56 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. Ondas has a 1 year low of $0.54 and a 1 year high of $3.14. The stock has a market capitalization of $197.87 million, a P/E ratio of -3.56 and a beta of 2.55. The company has a 50-day moving average price of $1.14 and a 200-day moving average price of $0.93.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.48 million for the quarter, compared to analyst estimates of $1.32 million. Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. During the same quarter last year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Ondas will post -0.53 EPS for the current fiscal year.

Insider Activity at Ondas

In other Ondas news, Director Randy Seidl sold 21,359 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the sale, the director now owns 124,513 shares in the company, valued at approximately $160,621.77. This trade represents a 14.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ondas

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Ondas by 12.8% during the third quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock worth $480,000 after acquiring an additional 70,502 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Ondas by 35.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 407,400 shares of the company’s stock valued at $314,000 after purchasing an additional 107,400 shares during the last quarter. Finally, Wealth Effects LLC raised its stake in shares of Ondas by 7.7% during the 3rd quarter. Wealth Effects LLC now owns 168,500 shares of the company’s stock worth $130,000 after purchasing an additional 12,000 shares during the period. 37.73% of the stock is owned by institutional investors.

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.