Ondas Holdings Inc. $ONDS Shares Newly Purchased by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors acquired 419,540 Ondas shares worth approximately $3.1 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 37.73% of the company.
• Ondas insiders recently sold shares: CFO Neil Laird sold 4,952 shares and Director Richard Cohen sold 7,500 shares. Corporate insiders own 1.67% of the stock.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $16.89, although Ondas shares opened at $6.14 and the company recently missed earnings expectations.

Salem Investment Counselors Inc. acquired a new stake in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 419,540 shares of the company's stock, valued at approximately $3,075,000. Salem Investment Counselors Inc. owned 0.07% of Ondas at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NFSG Corp raised its stake in Ondas by 200.0% during the first quarter. NFSG Corp now owns 3,000 shares of the company's stock worth $27,000 after purchasing an additional 2,000 shares during the period. Western Wealth Management LLC acquired a new position in Ondas in the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in Ondas by 5,373.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company's stock valued at $28,000 after purchasing an additional 3,063 shares during the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Ondas in the 1st quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC grew its stake in shares of Ondas by 813.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,941 shares of the company's stock valued at $44,000 after buying an additional 4,400 shares during the period. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ondas

In related news, CFO Neil Laird sold 4,952 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.74, for a total transaction of $38,328.48. Following the completion of the transaction, the chief financial officer owned 42,246 shares of the company's stock, valued at approximately $326,984.04. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Cohen sold 7,500 shares of the stock in a transaction that occurred 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 directly owned 261,836 shares of the company's stock, valued at $2,346,050.56. The trade was a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.67% of the company's stock.

Analyst Ratings Changes

ONDS has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Ondas from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 4th. Oppenheimer lifted their price target on shares of Ondas from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Citizens Jmp started coverage on Ondas in a report on Monday, October 5th. They issued an "outperform" rating and a $14.00 price objective on the stock. Wall Street Zen lowered Ondas from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price objective on shares of Ondas in a research report on Monday, September 14th. Ten 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.89.

Ondas Stock Down 8.5%

NASDAQ ONDS opened at $6.14 on Thursday. The firm's 50-day moving average is $7.82 and its two-hundred day moving average is $8.69. Ondas Holdings Inc. has a 12 month low of $4.95 and a 12 month 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 negative return on equity of 14.20% and a net margin of 93.55%. The company had revenue of $83.77 million for the quarter, compared to analysts' expectations of $67.97 million. On average, equities analysts anticipate that Ondas Holdings Inc. will post -0.47 EPS for the current year.

Ondas Company Profile

Ondas Holdings Inc NASDAQ: ONDS develops autonomous drone systems and private wireless networking solutions for industrial, government and critical-infrastructure applications. Its technologies are designed to support remote monitoring, inspection, security, public safety and other operations that require persistent data collection and reliable communications.

Through its subsidiaries, including American Robotics and Ondas Networks, the company offers autonomous drone platforms, command-and-control software, aerial intelligence solutions and industrial-grade wireless networks.

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