Northland Securities Forecasts Strong Price Appreciation for Ondas (NASDAQ:ONDS) Stock

Ondas (NASDAQ:ONDS) had its price target hoisted by Northland Securities from $1.50 to $4.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Ondas Stock Performance

NASDAQ:ONDS opened at $2.56 on Monday. The company has a market capitalization of $197.87 million, a P/E ratio of -3.56 and a beta of 2.55. The business has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $0.93. 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.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm 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 posted ($0.15) EPS. On average, analysts expect that Ondas will post -0.53 earnings per share for the current year.

Insider Activity at Ondas

In other Ondas news, Director Randy Seidl sold 21,359 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was 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 in the company, valued at $160,621.77. This trade represents a 14.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ondas

A number of institutional investors and hedge funds have recently modified their holdings of ONDS. Wealth Effects LLC increased its holdings in Ondas by 9.8% during the 2nd quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock worth $91,000 after acquiring an additional 14,000 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Ondas by 17.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 300,000 shares of the company’s stock worth $174,000 after purchasing an additional 44,000 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Ondas by 12.8% in the third quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock worth $480,000 after buying an additional 70,502 shares in the last quarter. 37.73% of the stock is 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.