Heights Capital Management Inc. Acquires 3,844,401 Shares of Ondas Holdings Inc. (NASDAQ:ONDS)

Heights Capital Management Inc. increased its stake in shares of Ondas Holdings Inc. (NASDAQ:ONDS - Free Report) by 397.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,811,354 shares of the company's stock after buying an additional 3,844,401 shares during the period. Ondas comprises about 6.2% of Heights Capital Management Inc.'s holdings, making the stock its 3rd biggest position. Heights Capital Management Inc. owned about 6.23% of Ondas worth $12,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ONDS. Penbrook Management LLC bought a new stake in Ondas during the 4th quarter valued at $28,000. Wells Fargo & Company MN increased its position in shares of 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 acquiring an additional 6,200 shares during the period. Staley Capital Advisers Inc. bought a new position in shares of Ondas during the fourth quarter valued at approximately $32,000. Quantbot Technologies LP bought a new stake in Ondas during the 4th quarter valued at approximately $55,000. Finally, DnB Asset Management AS bought a new position in Ondas in the 4th quarter worth $76,000. Institutional investors own 37.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ONDS shares. Lake Street Capital assumed coverage on shares of Ondas in a report on Monday, April 14th. They issued a "buy" rating and a $2.50 price target on the stock. Northland Securities raised their price target on Ondas from $1.50 to $4.00 and gave the company an "outperform" rating in a report on Monday, December 30th.

Ondas Price Performance

Shares of NASDAQ ONDS traded down $0.09 during mid-day trading on Friday, hitting $0.72. 10,699,050 shares of the company's stock traded hands, compared to its average volume of 3,421,879. The company's 50-day moving average is $0.89 and its two-hundred day moving average is $1.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.43 and a quick ratio of 0.21. Ondas Holdings Inc. has a 1 year low of $0.54 and a 1 year high of $3.40. The company has a market capitalization of $95.44 million, a P/E ratio of -0.99 and a beta of 1.87.

Ondas (NASDAQ:ONDS - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Ondas had a negative net margin of 544.24% and a negative return on equity of 183.49%. The company had revenue of $4.13 million for the quarter, compared to analysts' expectations of $5.75 million. On average, equities analysts anticipate 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.