Ondas (NASDAQ:ONDS) Price Target Raised to $5.00 at Lake Street Capital

Ondas (NASDAQ:ONDS) had its price target increased by Lake Street Capital from $2.50 to $5.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Wall Street Zen upgraded shares of Ondas from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th.

Ondas Price Performance

Shares of ONDS stock opened at $3.52 on Wednesday. Ondas has a 12 month low of $0.54 and a 12 month high of $4.39. The company has a market capitalization of $632.05 million, a PE ratio of -6.77 and a beta of 2.29. The firm’s 50-day moving average is $2.13 and its two-hundred day moving average is $1.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.65.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Ondas had a negative net margin of 300.11% and a negative return on equity of 252.20%. The company had revenue of $4.25 million for the quarter, compared to analyst estimates of $4.94 million. Analysts predict that Ondas will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Ondas

A number of institutional investors have recently made changes to their positions in the stock. Heights Capital Management Inc. increased its position 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 valued at $12,317,000 after acquiring an additional 3,844,401 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of Ondas by 263.5% in the second quarter. Cresset Asset Management LLC now owns 4,667,874 shares of the company’s stock valued at $8,962,000 after purchasing an additional 3,383,629 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ondas by 57.4% in the second quarter. Geode Capital Management LLC now owns 1,344,590 shares of the company’s stock valued at $2,583,000 after purchasing an additional 490,239 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Ondas by 2,796.2% in the second quarter. XTX Topco Ltd now owns 853,568 shares of the company’s stock valued at $1,639,000 after purchasing an additional 824,096 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Ondas by 83,399,800.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 833,999 shares of the company’s stock valued at $1,601,000 after purchasing an additional 833,998 shares in the last quarter. 37.73% of the stock is currently owned by institutional investors and hedge funds.

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.