Goldman Sachs Group Inc. Buys 91,732 Shares of Ondas Holdings Inc. $ONDS

Key Points

• Goldman Sachs increased its stake in Ondas Holdings Inc. by 444.4%, acquiring an additional 91,732 shares during the first quarter, bringing its total ownership to 112,373 shares worth approximately $120,000.
• Several institutional investors, including Millennium Management LLC and XTX Topco Ltd, have also significantly increased their investments in Ondas, resulting in 37.73% of the stock being owned by institutional investors.
• Ondas reported earnings of ($0.08) EPS for the last quarter, beating analysts' expectations, with a revenue of $6.27 million, ahead of the forecast of $4.97 million.

Goldman Sachs Group Inc. lifted its stake in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) by 444.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,373 shares of the company's stock after purchasing an additional 91,732 shares during the period. Goldman Sachs Group Inc. owned 0.06% of Ondas worth $120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Ondas by 150.0% in the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock worth $73,000 after purchasing an additional 17,021 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of Ondas in the 1st quarter worth $187,000. Two Sigma Investments LP bought a new position in Ondas during the fourth quarter worth about $31,000. Squarepoint Ops LLC bought a new position in Ondas during the fourth quarter worth about $48,000. Finally, XTX Topco Ltd bought a new position in Ondas during the first quarter worth about $32,000. 37.73% of the stock is currently owned by institutional investors.

Ondas Price Performance

Shares of Ondas stock opened at $7.87 on Tuesday. The stock's 50-day moving average is $4.69 and its 200-day moving average is $2.44. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -15.13 and a beta of 2.40. Ondas Holdings Inc. has a one year low of $0.57 and a one year high of $8.71.

Ondas (NASDAQ:ONDS - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The business had revenue of $6.27 million for the quarter, compared to the consensus estimate of $4.97 million. Ondas had a negative return on equity of 130.48% and a negative net margin of 300.11%. On average, equities analysts expect that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on ONDS shares. Needham & Company LLC started coverage on Ondas in a report on Tuesday, August 19th. They set a "buy" rating and a $5.00 target price on the stock. Lake Street Capital lifted their target price on Ondas from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $5.67.

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.

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