419,540 Shares of Ondas Holdings Inc. $ONDS Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. bought a new stake in shares of Ondas Holdings Inc. (NASDAQ:ONDS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 419,540 shares of the company’s stock, valued at approximately $3,075,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC grew its position in Ondas by 3.8% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 27,250 shares of the company’s stock valued at $266,000 after acquiring an additional 1,000 shares in the last quarter. State of Wyoming increased its stake in Ondas by 31.5% during the first quarter. State of Wyoming now owns 6,809 shares of the company’s stock worth $62,000 after purchasing an additional 1,631 shares during the period. NFSG Corp increased 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. Steadtrust LLC lifted its position in shares of Ondas by 10.3% during the second quarter. Steadtrust LLC now owns 21,473 shares of the company’s stock worth $177,000 after purchasing an additional 2,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Ondas by 5,373.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,120 shares of the company’s stock worth $28,000 after purchasing an additional 3,063 shares in the last quarter. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ondas

In related news, Director Richard M. Cohen sold 7,500 shares of Ondas stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.96, for a total value of $67,200.00. Following the completion of the transaction, the director owned 261,836 shares in the company, valued at $2,346,050.56. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Neil J. Laird sold 4,952 shares of the business’s stock in a transaction that occurred 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 owned 42,246 shares of the company’s stock, valued at $326,984.04. This trade represents a 10.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.67% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on ONDS shares. Wall Street Zen lowered shares of Ondas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Roth Capital restated a “buy” rating on shares of Ondas in a report on Tuesday, August 18th. Oppenheimer upped their target price on shares of Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Ondas in a report on Monday, September 14th. Finally, Weiss Ratings lowered shares of Ondas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.89.

Ondas Trading Down 8.5%

Shares of ONDS opened at $6.14 on Thursday. The stock has a 50-day simple moving average of $7.82 and a 200-day simple moving average of $8.69. Ondas Holdings Inc. has a 1 year low of $4.95 and a 1 year high of $15.28.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $67.97 million. As a group, equities analysts predict that Ondas Holdings Inc. will post -0.47 earnings per share for the current year.

Ondas 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.