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

Ondas (NASDAQ:ONDS - Free Report) had its price objective raised by Northland Securities from $1.50 to $4.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Ondas Price Performance

ONDS stock traded up $0.20 during mid-day trading on Monday, reaching $2.79. 20,931,000 shares of the company traded hands, compared to its average volume of 1,025,752. Ondas has a 52-week low of $0.54 and a 52-week high of $3.14. The company has a market capitalization of $215.65 million, a P/E ratio of -3.87 and a beta of 2.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. The company has a fifty day moving average price of $1.04 and a 200-day moving average price of $0.89.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The firm had revenue of $1.48 million for the quarter, compared to analysts' expectations of $1.32 million. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, analysts anticipate that Ondas will post -0.53 earnings per share for the current year.

Insider Activity at Ondas

In other news, Director Randy Seidl sold 21,359 shares of the stock in a transaction 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 transaction, the director now owns 124,513 shares of the company's stock, valued at $160,621.77. This represents a 14.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Effects LLC lifted 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 acquiring an additional 14,000 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position 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 purchasing an additional 44,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ondas by 12.8% during the third quarter. Geode Capital Management LLC now owns 622,595 shares of the company's stock valued at $480,000 after purchasing an additional 70,502 shares during the period. 37.73% of the stock is currently owned by 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.