AWM Investment Company Inc. Acquires New Shares in Ondas Holdings Inc. $ONDS

AWM Investment Company Inc. purchased a new position in Ondas Holdings Inc. (NASDAQ:ONDS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,793,239 shares of the company’s stock, valued at approximately $11,123,000. Ondas comprises 1.2% of AWM Investment Company Inc.’s holdings, making the stock its 28th largest position. AWM Investment Company Inc. owned approximately 2.64% of Ondas as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. bought a new stake in Ondas during the 2nd quarter valued at approximately $3,086,000. NewEdge Advisors LLC bought a new stake in Ondas in the second quarter worth $152,000. Hood River Capital Management LLC bought a new position in Ondas during the second quarter valued at $14,479,000. Cresset Asset Management LLC raised its position in Ondas by 263.5% during the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after purchasing an additional 3,383,629 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Ondas during the 2nd quarter valued at approximately $705,000. Institutional investors own 37.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ONDS. Oppenheimer upgraded shares of Ondas from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Friday, November 14th. Needham & Company LLC boosted their price target on Ondas from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Loop Capital set a $10.00 target price on shares of Ondas in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ondas in a research note on Monday, December 1st. Finally, Zacks Research downgraded shares of Ondas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Five investment 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 data from MarketBeat, Ondas has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Insiders Place Their Bets

In related news, Director Ron Stern sold 850,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $7.91, for a total value of $6,723,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Ondas Stock Performance

NASDAQ:ONDS opened at $8.75 on Friday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -21.88 and a beta of 2.42. Ondas Holdings Inc. has a one year low of $0.57 and a one year high of $11.70. The stock has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $5.08.

Ondas (NASDAQ:ONDS) last posted 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 during the quarter, compared to analyst estimates of $7.04 million. On average, equities research analysts forecast 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.