Ondas Holdings Inc. (NASDAQ:ONDS) Stock Has Average Target Price of $16.89

Shares of Ondas Holdings Inc. (NASDAQ:ONDS) have earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.89.

ONDS has been the topic of a number of analyst reports. Oppenheimer increased their price objective on Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Roth Capital reissued a “buy” rating on shares of Ondas in a research note on Tuesday, August 18th. LADENBURG THALM/SH SH boosted their target price on shares of Ondas from $21.50 to $22.75 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th.

Ondas Stock Performance

Shares of Ondas stock opened at $6.02 on Friday. Ondas has a 1 year low of $4.95 and a 1 year high of $15.28. The business has a 50 day moving average price of $7.44 and a 200 day moving average price of $8.57.

Ondas (NASDAQ:ONDS) last announced its earnings results on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The company had revenue of $83.77 million for the quarter, compared to analyst estimates of $67.97 million. On average, analysts anticipate that Ondas will post -0.47 EPS for the current year.

Insider Transactions at Ondas

In other news, CFO Neil Laird sold 4,952 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total value of $38,328.48. Following the completion of the transaction, the chief financial officer owned 42,246 shares of the company’s stock, valued at $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Cohen sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total transaction of $67,200.00. Following the transaction, the director directly owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ondas by 9,274.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,466,373 shares of the company’s stock worth $33,832,000 after purchasing an additional 3,429,398 shares during the period. RFG Advisory LLC grew its position in shares of Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company’s stock valued at $22,967,000 after purchasing an additional 1,012,353 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Ondas in the second quarter valued at $13,158,000. Bank of America Corp DE grew its position in shares of Ondas by 1,443.9% in the first quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock valued at $12,700,000 after purchasing an additional 1,313,823 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in Ondas by 63.0% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company’s stock valued at $8,380,000 after purchasing an additional 393,133 shares during the last quarter. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Ondas Company Profile

Ondas Holdings Inc (NASDAQ: ONDS) develops autonomous drone systems and private wireless networking solutions for industrial, government, and critical-infrastructure applications. Its businesses are focused on enabling automated data collection, remote monitoring, inspection, and secure communications in environments where conventional connectivity or manually operated equipment may be less effective.

Through its Ondas Autonomous Systems businesses, including American Robotics and Airobotics, the company offers autonomous unmanned aerial systems, drone-in-a-box platforms, and related software and services.