Northland Securities Issues Positive Forecast for Ondas (NASDAQ:ONDS) Stock Price

Ondas (NASDAQ:ONDS) had its target price hoisted by stock analysts at Northland Securities from $1.50 to $4.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 54.44% from the company’s previous close.

Ondas Price Performance

Shares of NASDAQ ONDS opened at $2.59 on Monday. The stock has a market capitalization of $200.19 million, a price-to-earnings ratio of -3.60 and a beta of 2.55. Ondas has a 52 week low of $0.54 and a 52 week high of $3.10. The firm has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $0.89. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In other news, Director Randy Seidl sold 21,359 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 124,513 shares of the company’s stock, valued at approximately $160,621.77. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Effects LLC increased its stake in shares of Ondas by 9.8% during the second quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock worth $91,000 after buying an additional 14,000 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Ondas by 17.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $174,000 after buying an additional 44,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ondas by 12.8% during the 3rd 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 in the last quarter. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Ondas Company Profile

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.