TLDR
- Roth Capital upgraded ONDS to “strong buy” with a $13 price target; consensus sits at “Moderate Buy” with a $16.33 average target
- ONDS opened at $9.74, up 4.6%, with a 52-week range of $3.20 to $15.28 and a market cap of $5.55 billion
- Ondas was selected to build Israel’s next-generation “Digital Bat” tactical attack drone platform in a multi-million-dollar deal
- The company won a counter-drone contract at EverBank Stadium and completed its acquisition of Cyberhawk
- Insiders sold approximately $32.1 million worth of stock over the past three months, while institutional ownership stands at 37.73%
Ondas Holdings (ONDS) opened at $9.74 on Wednesday, up 4.6%, after Roth Capital upgraded the stock to “strong buy.” The upgrade came alongside a $13 price target, which is below the current analyst consensus of $16.33 but above where the stock is trading now.
The stock has had a wide 52-week range, swinging from a low of $3.20 to a high of $15.28. Its 50-day moving average sits at $8.39, while the 200-day moving average is $9.57. Market cap is approximately $5.55 billion, with a P/E ratio of 243.50.
Roth Capital is not the only firm paying attention. LADENBURG THALM also carries a strong buy rating on ONDS. Needham has a buy rating with a $19 target, though it trimmed that from $23 in July. Zacks moved the stock from strong sell to hold in May. Weiss Ratings went the other direction, downgrading to sell on August 4th.
Overall, two analysts rate it strong buy, six say buy, one says hold, and one says sell.
Defense Contracts Drive the Story
The bigger picture for Ondas right now is its defense pipeline. The company was selected to build Israel’s next-generation “Digital Bat” tactical attack drone platform. It’s a multi-million-dollar program that fits into broader demand for lower-cost unmanned systems.
On the domestic side, Ondas won a counter-drone contract to protect EverBank Stadium, home of the Jacksonville Jaguars. It’s a commercial use case for the company’s autonomous drone and counter-UAS technology.
These wins add to a growing backlog as the U.S. and its allies increase spending on drone programs.
Cyberhawk Acquisition Adds New Dimension
Ondas also completed its acquisition of Cyberhawk during the period. Cyberhawk brings AI-powered drone inspection, asset analytics, and visual data management to the table. It expands ONDS into critical infrastructure and industrial inspection markets.
How quickly that acquisition contributes financially depends on integration, which remains a key risk to watch.
On the institutional side, several large investors have been buying. Vanguard boosted its stake by 39.9% in Q4. State Street grew its position by 130.2%. Two Sigma jumped in aggressively, increasing its holdings by over 1,300% in Q3. Manufacturers Life Insurance raised its stake by 664% in Q1, bringing its total to 129,481 units valued at around $1.17 million. Institutional investors now own 37.73% of the company.
Insider activity tells a different story. CEO Eric A. Brock sold 2.37 million units in June at an average price of $13.43, a transaction worth nearly $32 million. The sale was linked to tax withholding on vesting equity awards. Director Richard M. Cohen also sold 7,500 units in May at $9.50. Total insider sales over the past three months came to roughly $32.1 million.
Insiders currently own 1.67% of the company.
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