Cresset Asset Management LLC Purchases 3,383,629 Shares of Ondas Holdings Inc. $ONDS

Cresset Asset Management LLC lifted its position in shares of Ondas Holdings Inc. (NASDAQ:ONDS) by 263.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,667,874 shares of the company’s stock after purchasing an additional 3,383,629 shares during the quarter. Cresset Asset Management LLC owned about 2.60% of Ondas worth $8,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Ondas by 57.4% during the second quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company’s stock valued at $2,583,000 after buying an additional 490,239 shares during the period. XTX Topco Ltd grew its position in shares of Ondas by 2,796.2% in the 2nd quarter. XTX Topco Ltd now owns 853,568 shares of the company’s stock worth $1,639,000 after buying an additional 824,096 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Ondas by 83,399,800.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 833,999 shares of the company’s stock worth $1,601,000 after acquiring an additional 833,998 shares in the last quarter. Huntleigh Advisors Inc. purchased a new position in Ondas during the 2nd quarter valued at about $1,489,000. Finally, Quadrature Capital Ltd bought a new stake in Ondas during the second quarter worth about $705,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

Ondas Stock Down 1.3%

Shares of NASDAQ ONDS opened at $9.07 on Friday. The firm has a market cap of $3.34 billion, a P/E ratio of -22.68 and a beta of 2.42. 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 $7.81 and a 200 day moving average of $4.83.

Ondas (NASDAQ:ONDS) last issued its earnings results on Thursday, November 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Ondas had a negative net margin of 192.60% and a negative return on equity of 35.16%. The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $7.04 million. As a group, equities analysts expect that Ondas Holdings Inc. will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ondas news, Director Ron Stern sold 850,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

ONDS has been the subject of a number of analyst reports. Zacks Research downgraded shares of Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Loop Capital set a $10.00 price target on Ondas in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ondas in a research report on Monday, December 1st. Lake Street Capital boosted their target price on Ondas from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Needham & Company LLC raised their price target on Ondas from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.67.

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.