Wealthspan Partners LLC Acquires 33,900 Shares of Ondas Holdings Inc. $ONDS

Wealthspan Partners LLC increased its holdings in shares of Ondas Holdings Inc. (NASDAQ:ONDS) by 168.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,000 shares of the company’s stock after buying an additional 33,900 shares during the period. Wealthspan Partners LLC’s holdings in Ondas were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Diamond Hill Capital Management Inc. raised its stake in shares of Ondas by 5.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 645,510 shares of the company’s stock worth $691,000 after buying an additional 31,219 shares during the last quarter. Summit Trail Advisors LLC bought a new stake in shares of Ondas during the first quarter worth approximately $187,000. PEAK6 LLC raised its stake in shares of Ondas by 39.9% during the first quarter. PEAK6 LLC now owns 125,920 shares of the company’s stock worth $135,000 after buying an additional 35,919 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ondas by 444.4% during the first quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company’s stock worth $120,000 after buying an additional 91,732 shares during the last quarter. Finally, XML Financial LLC bought a new stake in shares of Ondas during the first quarter worth approximately $107,000. 37.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ONDS. Weiss Ratings reissued a “sell (e+)” rating on shares of Ondas in a research note on Wednesday, October 8th. Needham & Company LLC assumed coverage on shares of Ondas in a research report on Tuesday, August 19th. They set a “buy” rating and a $5.00 price target on the stock. Lake Street Capital lifted their price target on shares of Ondas from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. HC Wainwright assumed coverage on shares of Ondas in a research report on Monday, October 6th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Wall Street Zen raised shares of Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.25.

Ondas Stock Down 8.6%

Ondas stock opened at $9.51 on Thursday. The stock has a market capitalization of $3.32 billion, a PE ratio of -18.29 and a beta of 2.46. Ondas Holdings Inc. has a twelve month low of $0.57 and a twelve month high of $11.70. The company has a 50 day moving average of $6.49 and a 200-day moving average of $3.16.

Ondas (NASDAQ:ONDS) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company 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%. Equities analysts anticipate that Ondas Holdings Inc. will post -0.53 EPS for the current fiscal year.

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.