Consolidated Investment Group LLC Purchases 189,000 Shares of Ondas Holdings Inc. $ONDS

Key Points

• Consolidated Investment Group initiated a position in Ondas, buying 189,000 shares worth approximately $1.385 million in the third quarter. Hedge funds and other institutional investors collectively own 37.73% of the stock.
• Analyst sentiment is broadly positive: 11 analysts rate Ondas a Buy, one a Hold, and one a Sell; the average price target is $16.89.
• Ondas reported quarterly revenue of $83.77 million, above estimates, but its loss per share of $0.19 was wider than expected. Shares opened at $5.97, below their 50-day and 200-day moving averages.

Consolidated Investment Group LLC purchased a new position in shares of Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 189,000 shares of the company's stock, valued at approximately $1,385,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RFG Advisory LLC increased its stake in Ondas by 57.0% in the second quarter. RFG Advisory LLC now owns 2,787,202 shares of the company's stock valued at $22,967,000 after purchasing an additional 1,012,353 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Ondas during the second quarter worth about $13,158,000. Bank of America Corp DE boosted its stake in shares of Ondas by 1,443.9% during the first quarter. Bank of America Corp DE now owns 1,404,812 shares of the company's stock worth $12,700,000 after buying an additional 1,313,823 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Ondas by 17.2% during the third quarter. Oppenheimer & Co. Inc. now owns 1,156,205 shares of the company's stock worth $8,475,000 after buying an additional 170,075 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD grew its holdings in shares of Ondas by 63.0% during the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 1,016,941 shares of the company's stock worth $8,380,000 after buying an additional 393,133 shares during the last quarter. 37.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONDS has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Ondas in a research note on Monday, September 14th. Citizens Jmp began coverage on Ondas in a research note on Monday, October 5th. They issued an "outperform" rating and a $14.00 target price on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Ondas in a report on Monday, November 2nd. LADENBURG THALM/SH SH upped their price objective on shares of Ondas from $21.50 to $22.75 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, Oppenheimer raised their price target on Ondas from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.89.

Ondas Stock Performance

Shares of NASDAQ:ONDS opened at $5.97 on Tuesday. The business's fifty day moving average price is $6.83 and its two-hundred day moving average price is $8.84. The stock has a market cap of $3.48 billion, a PE ratio of -85.29 and a beta of 3.10. Ondas Holdings Inc. has a one year low of $4.38 and a one year high of $15.28.

Ondas (NASDAQ:ONDS - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. The firm had revenue of $83.77 million during the quarter, compared to analyst estimates of $67.97 million. As a group, equities research analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ondas news, Director Richard M. Cohen sold 7,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total transaction of $67,200.00. Following the transaction, the director owned 261,836 shares of the company's stock, valued at $2,346,050.56. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total value of $38,328.48. Following the transaction, the chief financial officer directly owned 42,246 shares in the company, valued at approximately $326,984.04. This represents a 10.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.67% of the company's stock.

Ondas Company Profile

Ondas Holdings is a technology company that develops private wireless networks and autonomous systems for industrial, government and security applications. Its businesses include Ondas Networks and Ondas Autonomous Systems.

Ondas Networks provides private broadband wireless solutions for mission-critical communications. Its FullMAX platform is designed to support applications such as rail communications and industrial data networks.

Ondas Autonomous Systems develops autonomous drone and counter-drone technologies, including systems for infrastructure inspection, security and public safety.

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