CenterBook Partners LP Makes New $673,000 Investment in Ondas Holdings Inc. $ONDS

CenterBook Partners LP bought a new position in Ondas Holdings Inc. (NASDAQ:ONDS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 91,794 shares of the company’s stock, valued at approximately $673,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Ondas during the second quarter valued at $13,158,000. Bank of America Corp DE boosted its position in shares of Ondas by 1,443.9% in the 1st quarter. Bank of America Corp DE now owns 1,404,812 shares of the company’s stock valued at $12,700,000 after purchasing an additional 1,313,823 shares during the period. RFG Advisory LLC boosted its position in shares of Ondas by 57.0% in the 2nd 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. Oddo BHF Asset Management Sas purchased a new position in Ondas in the 1st quarter worth about $5,000,000. Finally, Cetera Investment Advisers increased its stake in Ondas by 281.3% in the 1st quarter. Cetera Investment Advisers now owns 707,486 shares of the company’s stock worth $6,396,000 after purchasing an additional 521,944 shares in the last quarter. 37.73% of the stock is owned by institutional investors and hedge funds.

Ondas Stock Performance

NASDAQ ONDS opened at $5.73 on Thursday. The firm’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $8.78. Ondas Holdings Inc. has a twelve month low of $4.38 and a twelve month high of $15.28. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -81.86 and a beta of 3.10.

Ondas (NASDAQ:ONDS) last released its earnings results on Thursday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $83.77 million during the quarter, compared to analysts’ expectations of $67.97 million. Ondas had a net margin of 93.55% and a negative return on equity of 14.20%. On average, research analysts forecast that Ondas Holdings Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Ondas

In related news, CFO Neil J. Laird sold 4,952 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $7.74, for a total transaction of $38,328.48. Following the transaction, the chief financial officer directly owned 42,246 shares of the company’s stock, valued at approximately $326,984.04. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Cohen sold 7,500 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the sale, the director directly owned 261,836 shares of the company’s stock, valued at approximately $2,346,050.56. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.67% of the company’s stock.

Key Ondas News

Here’s some of the latest news about ONDS:

• Positive Sentiment: Ondas received a purchase order for next-generation tactical attack drones, described in coverage as “digital bat” drones. The company says it aims to use its planned ARAN Defense acquisition to support manufacturing thousands of systems. Ondas Receives Purchase Order for Next-Generation Tactical Attack Drones Ondas scores new digital bat drones order
• Positive Sentiment: Ondas plans to scale ULTRA aircraft production to 10 units per month by 2028, supported by the Stemme buyout and new U.S. manufacturing facilities. The plan positions the company to pursue growing intelligence, surveillance and reconnaissance demand, though it will take time to execute. Ondas Plans U.S. Manufacturing Push to Scale ULTRA Aircraft Output
• Positive Sentiment: A report cited a consensus analyst price target of $16.89, which suggests potential upside relative to the stock’s recent trading level; price targets are estimates, not guarantees. Ondas consensus target price

Analyst Ratings Changes

ONDS has been the topic of several recent analyst reports. Ladenburg Thalmann & Co. Inc. boosted their price objective on Ondas from $21.50 to $22.75 and gave the stock a “buy” rating in a report on Monday, August 17th. Oppenheimer upped their price objective on shares of Ondas from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Citizens Jmp initiated coverage on shares of Ondas in a report on Monday, October 5th. They issued an “outperform” rating and a $14.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Ondas in a research report on Monday, September 14th. Finally, Wall Street Zen downgraded shares of Ondas from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.89.

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.