Ondas (NASDAQ:ONDS) Given New $4.00 Price Target at Northland Securities

Ondas (NASDAQ:ONDS) had its target price increased by equities research analysts at Northland Securities from $1.50 to $4.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective points to a potential upside of 54.44% from the company’s previous close.

Ondas Trading Up 3.2 %

Ondas stock opened at $2.59 on Monday. Ondas has a one year low of $0.54 and a one year high of $3.10. The stock has a market cap of $200.19 million, a PE ratio of -3.60 and a beta of 2.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43. The stock has a 50-day moving average of $1.04 and a two-hundred day moving average of $0.89.

Ondas (NASDAQ:ONDS) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) 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 analyst estimates of $1.32 million. Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. During the same period in the previous year, the company earned ($0.15) earnings per share. On average, research analysts anticipate that Ondas will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Ondas

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 transaction of $27,553.11. Following the sale, the director now owns 124,513 shares of the company’s stock, 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 link. 13.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Effects LLC increased its stake in shares of Ondas by 9.8% in the 2nd quarter. Wealth Effects LLC now owns 156,500 shares of the company’s stock valued at $91,000 after purchasing an additional 14,000 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Ondas by 17.2% during the 2nd 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 grew its stake in Ondas by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock valued at $480,000 after acquiring an additional 70,502 shares during the period. Hedge funds and other institutional investors own 37.73% of the company’s stock.

About Ondas

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.