Ondas Incorporated (ONDS) Fuels Confidence Based on Acquisitive Strategy and Autonomous Systems Portfolio

Ondas Incorporated (NASDAQ:ONDS) is one of the 11 best communication equipment stocks according to hedge funds.

On January 21, Stifel analyst Jonathan Siegmann raised the price target for Ondas Incorporated (NASDAQ:ONDS) from $17 to $18. The analyst maintains a Buy rating on the stock after management’s recent virtual investor day presentation. The company shed light on its Autonomous Systems portfolio and recent acquisitions. Regarding management’s outlook, Siegmann stated:

“Forecasts were nicely above our estimates and we gained greater appreciation of their differentiated approach to the military drone space.”

On February 2, Ondas Incorporated (NASDAQ:ONDS) made an important announcement for the expansion of its defense technology footprint through the acquisition of Rotron Aero. It is a UK-based developer of advanced unmanned and autonomous aerial platforms. This transaction is aimed at expanding the company’s capabilities in long-range and scalable military drone systems. The deal will be funded through a mix of cash and stock, and remains subject to regulatory approval. It is expected to help the company fulfill the growing demand for cost-effective autonomous technologies in the modern battlefield.

Ondas Incorporated (NASDAQ:ONDS) develops and sells private wireless networks, autonomous drones, and automated data solutions and platforms through its two segments, i.e., Ondas Networks and Ondas Autonomous Systems. Its offerings include FullMAX, FullMAX SDR, Optimus, Insightful, and Raider, which have mission-critical applications.

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Disclosure: None. This article is originally published at Insider Monkey.