Penbrook Management LLC Makes New $28,000 Investment in Ondas Holdings Inc. (NASDAQ:ONDS)

Penbrook Management LLC bought a new position in shares of Ondas Holdings Inc. (NASDAQ:ONDS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,000 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Koshinski Asset Management Inc. boosted its stake in shares of Ondas by 15.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,940 shares of the company’s stock valued at $97,000 after buying an additional 5,000 shares during the period. Wealth Effects LLC raised its holdings in Ondas by 7.7% in the 3rd quarter. Wealth Effects LLC now owns 168,500 shares of the company’s stock valued at $130,000 after acquiring an additional 12,000 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Ondas by 35.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 407,400 shares of the company’s stock valued at $314,000 after acquiring an additional 107,400 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Ondas by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 622,595 shares of the company’s stock worth $480,000 after purchasing an additional 70,502 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company’s stock.

Ondas Stock Performance

Shares of Ondas stock opened at $1.71 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.21 and a debt-to-equity ratio of 0.02. The company has a market cap of $132.17 million, a PE ratio of -2.37 and a beta of 1.95. The company has a 50 day moving average of $1.70 and a 200-day moving average of $1.14. Ondas Holdings Inc. has a 1-year low of $0.54 and a 1-year high of $3.40.

Ondas (NASDAQ:ONDS) last released its earnings results 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). Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. The business had revenue of $1.48 million for the quarter, compared to the consensus estimate of $1.32 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. As a group, equities research analysts forecast that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Ondas

In other Ondas 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 value of $27,553.11. Following the sale, the director now owns 124,513 shares in the company, valued at $160,621.77. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 13.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Northland Securities boosted their price target on Ondas from $1.50 to $4.00 and gave the company an “outperform” rating in a research note on Monday, December 30th.

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.