Foundations Investment Advisors LLC Purchases Shares of 58,000 Ondas Holdings Inc. (NASDAQ:ONDS)

Foundations Investment Advisors LLC purchased a new stake in Ondas Holdings Inc. (NASDAQ:ONDS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,000 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Ondas by 119.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,400 shares of the company’s stock valued at $29,000 after purchasing an additional 6,200 shares during the last quarter. Two Sigma Investments LP purchased a new position in Ondas in the fourth quarter valued at approximately $31,000. Millennium Management LLC boosted its holdings in shares of Ondas by 150.0% in the fourth quarter. Millennium Management LLC now owns 28,366 shares of the company’s stock valued at $73,000 after acquiring an additional 17,021 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ondas during the fourth quarter worth approximately $46,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Ondas during the fourth quarter worth approximately $48,000. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Ondas Price Performance

Shares of NASDAQ ONDS opened at $2.20 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.65. The stock has a fifty day moving average price of $1.78 and a 200 day moving average price of $1.36. Ondas Holdings Inc. has a 1-year low of $0.54 and a 1-year high of $3.40. The company has a market cap of $395.03 million, a PE ratio of -3.79 and a beta of 2.29.

Ondas (NASDAQ:ONDS) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Ondas had a negative return on equity of 232.07% and a negative net margin of 412.92%. The company had revenue of $4.25 million for the quarter, compared to analyst estimates of $4.94 million. Sell-side analysts forecast that Ondas Holdings Inc. will post -0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Ondas in a research report on Monday, April 14th. They set a “buy” rating and a $2.50 target price on the stock. Wall Street Zen upgraded shares of Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th.

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.