Northland Securities Lowers Ondas (NASDAQ:ONDS) Price Target to $1.50

Ondas (NASDAQ:ONDS) had its target price decreased by investment analysts at Northland Securities from $2.00 to $1.50 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ target price points to a potential upside of 111.27% from the company’s current price.

Ondas Trading Up 7.4 %

NASDAQ ONDS opened at $0.71 on Friday. The company has a market cap of $47.05 million, a price-to-earnings ratio of -0.93 and a beta of 2.51. The business has a 50 day moving average price of $0.79 and a 200-day moving average price of $0.93. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 0.07. Ondas has a 52 week low of $0.31 and a 52 week high of $1.99.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $0.63 million for the quarter, compared to the consensus estimate of $3.57 million. Ondas had a negative return on equity of 108.29% and a negative net margin of 307.07%. As a group, equities analysts expect that Ondas will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Ondas by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,085,224 shares of the company’s stock worth $2,023,000 after buying an additional 196,568 shares during the last quarter. Diamond Hill Capital Management Inc. lifted 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 buying an additional 44,000 shares in the last quarter. Ceeto Capital Group LLC lifted its stake in Ondas by 35.4% in the 1st quarter. Ceeto Capital Group LLC now owns 260,000 shares of the company’s stock worth $252,000 after purchasing an additional 68,000 shares in the last quarter. Wealth Effects LLC raised its position in shares of Ondas by 9.8% in 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 in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Ondas during the 4th quarter valued at about $177,000. 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.