1. Ondas Inc. (NASDAQ:ONDS)
Share Price Upside: 122%
Number of Hedge Fund Holders: 29
Ondas Inc. (NASDAQ:ONDS) is among the 9 Best Drone Stocks to Buy According to Wall Street Analysts. As of the close on May 8, the stock is a Strong Buy based on recommendations from 7 analysts and has an average share-price upside potential of 122%.
Recent updates include Lake Street analyst Max Michaelis, on April 13, maintaining a Buy rating with a share price target of $19. This is a reaffirmation of the firm’s previous update in January, when it lifted the price target from $10 following the company’s OAS Virtual Investor Day, in which it shared upbeat financial targets for the future.
In other news, Ondas Inc. (NASDAQ:ONDS) said on April 24 that it had completed the $175 million merger with defense prime contractor Mistral Inc. The move marks a significant step in the company’s quest to expand participation across the Department of War’s programs and is likely to contribute to revenue growth and EBITDA ahead, especially since it already has over $1 billion in programs.
Eric Brock, Chairman and CEO, further added the following on the development:
“This merger marks a significant step in positioning Ondas as a fully integrated defense prime contractor, accelerating our expansion across the U.S. defense market. Mistral brings established access to key contract vehicles, a U.S.-based manufacturing and integration footprint, and deep customer relationships across UAVs, loitering munitions, and ground robotics-directly aligned with the core segments of our platform. Together, we are strengthening our ability to deliver mission-ready systems to U.S. government customers at scale.”
Ondas Inc. (NASDAQ:ONDS) provides private wireless solutions and autonomous aerial and ground robot intelligence for the defense, security, and industrial markets.
While we acknowledge the potential of ONDS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ONDS and that has 100x upside potential, check out our report about the cheapest AI stock.
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