Lake Street Capital Initiates Coverage on Ondas (NASDAQ:ONDS)

Stock analysts at Lake Street Capital started coverage on shares of Ondas (NASDAQ:ONDS) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $2.50 price target on the stock. Lake Street Capital’s target price would suggest a potential upside of 185.98% from the company’s previous close.

Separately, Northland Securities upped their price target on shares of Ondas from $1.50 to $4.00 and gave the company an “outperform” rating in a research note on Monday, December 30th.

Ondas Trading Down 4.4 %

Shares of NASDAQ:ONDS opened at $0.87 on Monday. The company has a 50-day simple moving average of $1.06 and a 200 day simple moving average of $1.25. The company has a market capitalization of $92.43 million, a P/E ratio of -1.21 and a beta of 1.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.21 and a current ratio of 0.43. Ondas has a 52-week low of $0.54 and a 52-week high of $3.40.

Ondas (NASDAQ:ONDS) last issued its earnings results on Wednesday, March 12th. The company reported ($0.14) 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 business had revenue of $4.13 million for the quarter, compared to the consensus estimate of $5.75 million. Sell-side analysts forecast that Ondas will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONDS. Heights Capital Management Inc. boosted its position in shares of Ondas by 397.6% in the fourth quarter. Heights Capital Management Inc. now owns 4,811,354 shares of the company’s stock valued at $12,317,000 after acquiring an additional 3,844,401 shares during the period. Cresset Asset Management LLC acquired a new stake in Ondas in the 4th quarter worth about $3,288,000. Jane Street Group LLC acquired a new stake in Ondas in the 4th quarter worth about $1,050,000. MYDA Advisors LLC bought a new stake in Ondas in the 4th quarter valued at about $998,000. Finally, AMH Equity Ltd acquired a new position in shares of Ondas during the 4th quarter worth approximately $952,000. 37.73% of the stock is owned by institutional investors and hedge funds.

About Ondas

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.