Lake Street Capital Issues Pessimistic Forecast for Outdoor (NASDAQ:POWW) Stock Price

Outdoor (NASDAQ:POWW - Get Free Report) had its target price dropped by research analysts at Lake Street Capital from $3.00 to $2.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Lake Street Capital's target price would indicate a potential upside of 49.25% from the stock's previous close.

Separately, Wall Street Zen downgraded Outdoor from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Outdoor Stock Down 2.2%

Shares of NASDAQ:POWW traded down $0.03 during midday trading on Monday, reaching $1.34. 137,616 shares of the company were exchanged, compared to its average volume of 734,574. The firm has a market cap of $156.53 million, a PE ratio of -2.92 and a beta of 1.16. Outdoor has a fifty-two week low of $0.95 and a fifty-two week high of $2.14. The stock has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $1.51.

Institutional Investors Weigh In On Outdoor

Several hedge funds have recently bought and sold shares of the company. Kanen Wealth Management LLC acquired a new stake in shares of Outdoor during the 1st quarter worth about $5,214,000. Focus Partners Wealth raised its holdings in Outdoor by 2.5% in the 1st quarter. Focus Partners Wealth now owns 545,742 shares of the company's stock valued at $753,000 after acquiring an additional 13,130 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Outdoor by 114.4% during the 1st quarter. Jane Street Group LLC now owns 148,855 shares of the company's stock valued at $205,000 after acquiring an additional 79,416 shares during the period. Empowered Funds LLC grew its holdings in shares of Outdoor by 7.4% during the 1st quarter. Empowered Funds LLC now owns 645,302 shares of the company's stock worth $891,000 after purchasing an additional 44,545 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Outdoor in the first quarter worth $214,000. 26.40% of the stock is currently owned by institutional investors and hedge funds.

About Outdoor

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.

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