SLT Holdings LLC Sells 40,500 Shares of Ondas Holdings Inc. $ONDS

SLT Holdings LLC trimmed its holdings in Ondas Holdings Inc. (NASDAQ:ONDS) by 69.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,500 shares of the company’s stock after selling 40,500 shares during the quarter. SLT Holdings LLC’s holdings in Ondas were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ONDS. Summit Trail Advisors LLC bought a new stake in shares of Ondas in the first quarter valued at approximately $187,000. XML Financial LLC bought a new stake in shares of Ondas in the first quarter valued at approximately $107,000. Goldman Sachs Group Inc. boosted its position in shares of Ondas by 444.4% in the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock valued at $120,000 after acquiring an additional 91,732 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Ondas in the second quarter valued at approximately $151,000. Finally, NTV Asset Management LLC acquired a new position in shares of Ondas in the second quarter valued at $144,000. 37.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

ONDS has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on Ondas in a research note on Tuesday, August 19th. They issued a “buy” rating and a $5.00 target price for the company. Lake Street Capital upped their target price on Ondas from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Ondas in a research note on Wednesday. HC Wainwright initiated coverage on Ondas in a research note on Monday. They issued a “buy” rating and a $12.00 target price for the company. Finally, Wall Street Zen upgraded Ondas from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.25.

Ondas Stock Down 12.1%

Shares of Ondas stock opened at $9.22 on Friday. The stock has a market capitalization of $3.04 billion, a P/E ratio of -17.73 and a beta of 2.46. The company has a 50-day simple moving average of $6.05 and a 200 day simple moving average of $2.97. Ondas Holdings Inc. has a 12-month low of $0.57 and a 12-month high of $11.70.

Ondas (NASDAQ:ONDS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $6.27 million during the quarter, compared to analysts’ expectations of $4.97 million. Ondas had a negative net margin of 300.11% and a negative return on equity of 130.48%. On average, equities analysts anticipate that Ondas Holdings Inc. will post -0.53 earnings per share for the current year.

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.