Wealth Enhancement Advisory Services LLC Buys New Holdings in Ondas Holdings Inc. $ONDS

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new position in Ondas Holdings Inc., purchasing 81,701 shares valued at approximately $151,000.
• Despite a twelve-month high of $11.70, Ondas shares recently opened at $9.22, reflecting a significant downturn of 12.1% in trading.
• Various analysts have mixed ratings on Ondas, with a consensus of "Moderate Buy" and a price target of $7.25, contrasting with some analysts recommending a "sell" rating.

Wealth Enhancement Advisory Services LLC bought a new position in Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 81,701 shares of the company's stock, valued at approximately $151,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC boosted its holdings 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 period. Goldman Sachs Group Inc. boosted its holdings in shares of Ondas by 444.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 112,373 shares of the company's stock worth $120,000 after purchasing an additional 91,732 shares during the period. Summit Trail Advisors LLC purchased a new position in shares of Ondas in the 1st quarter worth approximately $187,000. Two Sigma Investments LP purchased a new position in shares of Ondas in the 4th quarter worth approximately $31,000. Finally, XTX Topco Ltd purchased a new position in shares of Ondas in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 37.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ONDS shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ondas in a report on Wednesday. Wall Street Zen upgraded Ondas from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Needham & Company LLC assumed coverage on Ondas in a report on Tuesday, August 19th. They set a "buy" rating and a $5.00 price objective for the company. HC Wainwright assumed coverage on Ondas in a report on Monday, October 6th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Lake Street Capital boosted 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. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ondas presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Ondas Trading Down 12.1%

Shares of ONDS stock opened at $9.22 on Friday. Ondas Holdings Inc. has a twelve month low of $0.57 and a twelve month high of $11.70. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -17.73 and a beta of 2.46. The stock has a fifty day simple moving average of $6.05 and a two-hundred day simple moving average of $2.99.

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

Ondas 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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