Ondas (NASDAQ:ONDS) Now Covered by Lake Street Capital

Equities research analysts at Lake Street Capital started coverage on shares of Ondas (NASDAQ:ONDS) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $2.50 price target on the stock. Lake Street Capital’s target price suggests a potential upside of 185.98% from the stock’s previous close.

Separately, Northland Securities upped their price objective on Ondas from $1.50 to $4.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th.

Ondas Trading Down 4.4 %

Shares of Ondas stock opened at $0.87 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. Ondas has a 12-month low of $0.54 and a 12-month high of $3.40. The company has a market capitalization of $92.43 million, a price-to-earnings ratio of -1.21 and a beta of 1.87. The firm’s 50-day moving average price is $1.06 and its two-hundred day moving average price is $1.25.

Ondas (NASDAQ:ONDS) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $5.75 million. On average, analysts forecast that Ondas will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ondas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heights Capital Management Inc. grew its stake in shares of Ondas by 397.6% during the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company’s stock worth $12,317,000 after buying an additional 3,844,401 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Ondas during the 4th quarter valued at $3,288,000. Jane Street Group LLC bought a new stake in Ondas during the 4th quarter worth $1,050,000. MYDA Advisors LLC acquired a new position in Ondas in the 4th quarter worth about $998,000. Finally, AMH Equity Ltd bought a new position in Ondas in the fourth quarter valued at about $952,000. Institutional investors 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.