Lake Street Capital Issues Positive Forecast for Ondas (NASDAQ:ONDS) Stock Price

Key Points

• Lake Street Capital has raised its price target for Ondas (NASDAQ:ONDS) from $2.50 to $5.00, indicating a potential upside of 37.17% from the current share price.
• Ondas reported a quarterly earnings per share (EPS) of ($0.08), exceeding analysts' expectations, with revenue of $6.27 million, surpassing predictions by nearly $1.3 million.
• Institutional investors currently hold 37.73% of Ondas's stock, with significant investment increases from companies like Wells Fargo and SBI Securities during recent trading periods.

Ondas (NASDAQ:ONDS - Get Free Report) had its price objective upped by equities researchers at Lake Street Capital from $2.50 to $5.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's target price would suggest a potential upside of 37.17% from the company's current price.

Separately, Wall Street Zen raised Ondas from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th.

Ondas Stock Performance

Shares of NASDAQ:ONDS traded down $0.65 during midday trading on Wednesday, reaching $3.65. 56,629,343 shares of the company's stock traded hands, compared to its average volume of 13,816,867. The company has a market cap of $654.50 million, a price-to-earnings ratio of -6.32 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 0.86. Ondas has a one year low of $0.54 and a one year high of $4.39. The stock has a 50 day moving average of $2.09 and a 200 day moving average of $1.42.

Ondas (NASDAQ:ONDS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. Ondas had a negative return on equity of 232.07% and a negative net margin of 412.92%. The business had revenue of $6.27 million during the quarter, compared to analysts' expectations of $4.97 million. As a group, equities research analysts anticipate that Ondas will post -0.53 EPS for the current fiscal year.

Institutional Trading of Ondas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in shares of Ondas by 119.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,400 shares of the company's stock valued at $29,000 after buying an additional 6,200 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Ondas in the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. grew its position in shares of Ondas by 154.9% in the second quarter. SBI Securities Co. Ltd. now owns 16,299 shares of the company's stock valued at $31,000 after purchasing an additional 9,904 shares in the last quarter. XTX Topco Ltd purchased a new position in Ondas in the first quarter worth approximately $32,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Ondas in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 37.73% of the company's stock.

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.

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