Caitong International Asset Management Co. Ltd Purchases 3,429,398 Shares of Ondas Holdings Inc. $ONDS

Key Points

• Caitong International Asset Management massively increased its Ondas stake by 9,274.9% in the fourth quarter, buying 3.43 million additional shares and making ONDS its second-largest holding.
• Insiders have been selling shares, including Director Richard M. Cohen and CEO Eric A. Brock, whose large June sale cut his ownership by 39.9%; insiders now own about 1.6% of the stock.
• Analysts remain moderately positive on Ondas, with an average price target of $17.25, while the stock recently traded at $9.27 after reporting a quarterly EPS miss despite revenue above expectations.

Caitong International Asset Management Co. Ltd increased its position in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) by 9,274.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,466,373 shares of the company's stock after purchasing an additional 3,429,398 shares during the period. Ondas makes up 8.2% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 2nd largest holding. Caitong International Asset Management Co. Ltd owned about 0.82% of Ondas worth $33,832,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its holdings in Ondas by 231.4% during the 3rd quarter. IFP Advisors Inc now owns 4,142 shares of the company's stock worth $32,000 after purchasing an additional 2,892 shares in the last quarter. Avion Wealth lifted its holdings in shares of Ondas by 100.0% in the fourth quarter. Avion Wealth now owns 4,000 shares of the company's stock valued at $39,000 after purchasing an additional 2,000 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of Ondas by 228.6% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,403 shares of the company's stock valued at $43,000 after buying an additional 3,063 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Ondas by 1,005.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,398 shares of the company's stock valued at $43,000 after buying an additional 4,000 shares during the last quarter. Finally, American Capital Advisory LLC grew its holdings in Ondas by 4,600.0% during the fourth quarter. American Capital Advisory LLC now owns 4,700 shares of the company's stock worth $46,000 after buying an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 37.73% of the company's stock.

Insider Transactions at Ondas

In related news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.50, for a total value of $71,250.00. Following the transaction, the director owned 264,853 shares in the company, valued at $2,516,103.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric A. Brock sold 2,378,245 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $13.43, for a total transaction of $31,939,830.35. Following the transaction, the chief executive officer directly owned 3,583,010 shares of the company's stock, valued at approximately $48,119,824.30. This trade represents a 39.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 2,395,745 shares of company stock worth $32,109,380. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ONDS. HC Wainwright set a $17.00 target price on Ondas and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Zacks Research raised Ondas from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Weiss Ratings upgraded shares of Ondas from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 9th. LADENBURG THALM/SH SH raised shares of Ondas to a "strong-buy" rating in a research report on Wednesday, May 6th. Finally, Glj Research set a $17.00 price target on shares of Ondas in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $17.25.

Ondas Price Performance

ONDS stock opened at $9.27 on Friday. The firm has a market capitalization of $4.79 billion, a PE ratio of 231.75 and a beta of 2.60. Ondas Holdings Inc. has a twelve month low of $1.36 and a twelve month high of $15.28. The stock has a 50-day simple moving average of $10.12 and a two-hundred day simple moving average of $10.19.

Ondas (NASDAQ:ONDS - Get Free Report) last posted its earnings results on Monday, March 23rd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.33). The firm had revenue of $30.11 million during the quarter, compared to analysts' expectations of $27.49 million. Ondas had a negative return on equity of 14.17% and a net margin of 247.85%. On average, equities research analysts anticipate that Ondas Holdings Inc. will post -0.28 EPS for the current fiscal year.

Ondas Company Profile

Ondas Holdings, Inc NASDAQ: ONDS develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.

The company's Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.

Want to see what other hedge funds are holding ONDS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ondas Holdings Inc. (NASDAQ:ONDS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.