NTV Asset Management LLC Purchases Shares of 75,000 Ondas Holdings Inc. $ONDS

Key Points

• NTV Asset Management LLC acquired 75,000 shares of Ondas Holdings Inc. valued at approximately $144,000 during the 2nd quarter, indicating growing institutional interest in the company.
• Ondas reported a quarterly earnings beat, with a loss of $0.08 per share against analysts' expectations of a $0.11 loss, and revenue of $6.27 million, surpassing estimates.
• Analyst ratings on Ondas reveal a consensus rating of "Moderate Buy" and a target price of $5.67, despite some reservations highlighted by a "sell" rating from Weiss Ratings.

NTV Asset Management LLC purchased a new stake in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 75,000 shares of the company's stock, valued at approximately $144,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONDS. Millennium Management LLC raised its stake in shares of Ondas by 150.0% in the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company's stock valued at $73,000 after purchasing an additional 17,021 shares during the period. Two Sigma Investments LP bought a new position in shares of Ondas in the 4th quarter valued at about $31,000. Squarepoint Ops LLC bought a new position in shares of Ondas in the 4th quarter valued at about $48,000. XML Financial LLC bought a new position in shares of Ondas in the 1st quarter valued at about $107,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Ondas in the 1st quarter valued at about $187,000. Institutional investors and hedge funds own 37.73% of the company's stock.

Ondas Trading Up 7.6%

NASDAQ ONDS opened at $9.91 on Friday. Ondas Holdings Inc. has a 1-year low of $0.57 and a 1-year high of $10.28. The company has a 50 day moving average of $5.20 and a 200-day moving average of $2.65. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -19.06 and a beta of 2.46.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONDS shares. Weiss Ratings restated a "sell (e+)" rating on shares of Ondas in a report on Saturday, September 27th. Lake Street Capital raised their price objective on Ondas from $5.00 to $8.00 and gave the company a "buy" rating in a report on Friday, September 12th. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Needham & Company LLC started coverage on Ondas in a report on Tuesday, August 19th. They issued a "buy" rating and a $5.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $5.67.

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.

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