Ondas (NASDAQ:ONDS) Given New $14.00 Price Target at Needham & Company LLC

Ondas (NASDAQ:ONDS) had its price target reduced by Needham & Company LLC from $19.00 to $14.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Ondas to a “buy” rating in a research report on Monday, November 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Ondas in a report on Monday, November 2nd. Ladenburg Thalmann & Co. Inc. 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. Citigroup restated a “market outperform” rating on shares of Ondas in a research note on Monday, October 19th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ondas has an average rating of “Moderate Buy” and an average target price of $15.81.

Ondas Price Performance

Shares of ONDS traded down $0.16 during mid-day trading on Friday, reaching $5.16. The company had a trading volume of 49,376,014 shares, compared to its average volume of 44,381,684. Ondas has a twelve month low of $4.38 and a twelve month high of $15.28. The company’s 50-day moving average is $6.67 and its 200-day moving average is $8.71. The company has a market capitalization of $3.00 billion, a P/E ratio of -36.86 and a beta of 3.10.

Ondas (NASDAQ:ONDS) last posted its earnings results on Thursday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $167.49 million during the quarter, compared to the consensus estimate of $148.04 million. Ondas had a negative return on equity of 21.90% and a net margin of 32.91%. As a group, equities analysts expect that Ondas will post -0.47 EPS for the current fiscal year.

Insider Activity at Ondas

In other Ondas news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares in the company, valued at approximately $2,346,050.56. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of Ondas stock in a transaction 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 approximately $326,984.04. The trade was a 10.49% decrease in their position. The SEC filing for this sale provides additional information. 1.67% of the stock is owned by insiders.

Institutional Trading of Ondas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. acquired a new stake in shares of Ondas in the 3rd quarter valued at $3,075,000. The Manufacturers Life Insurance Company raised its position in shares of Ondas by 664.0% during the first quarter. The Manufacturers Life Insurance Company now owns 129,481 shares of the company’s stock worth $1,171,000 after acquiring an additional 112,534 shares during the last quarter. CI Investments Inc. bought a new stake in shares of Ondas during the first quarter worth $4,255,000. Royal Bank of Canada lifted its stake in shares of Ondas by 160.1% during the first quarter. Royal Bank of Canada now owns 384,656 shares of the company’s stock valued at $3,477,000 after acquiring an additional 236,782 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Ondas during the first quarter valued at $5,000,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Top Ondas Stories

Here are a few of the latest stories about ONDS:

• Positive Sentiment: Third-quarter revenue reached a record $167.5 million, more than 16 times the year-ago level and above analyst expectations of $148.0 million. The company also reported a $835 million backlog, citing strong bookings and defense demand. Q3 revenue and outlook
• Neutral Sentiment: Needham and Lake Street lowered their price targets from $19 to $14 but maintained Buy ratings, reflecting reduced targets alongside continued optimism about potential upside. Needham rating Lake Street rating
• Negative Sentiment: The quarterly loss widened year over year, while production expansion is weighing on margins. Investors also face execution risks, including converting the large backlog into revenue and integrating acquisitions. These concerns may help explain why strong sales growth has not translated into confidence about near-term profitability. Q3 results and margin pressure

About Ondas

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems. Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks. Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.