ONDS Stock In Focus As Ondas Keeps Bagging New Defense Deals – What’s The Latest Update?

Ondas said that the new orders were received for its autonomous defense systems.

• CEO Eric Brock said that the company is seeing demand from Europe and the U.S., where defense customers are looking to strengthen their defensive and offensive autonomous capabilities.
• Ondas added that its unit Rotron recently completed a successful flight trial of its SkyLance system.
• The company stated that it sees continued demand for autonomous defense systems. 

Shares of Ondas Inc (ONDS) were in focus on Monday after the company announced that it had received orders worth over $40 million in June so far, bringing total Q2 order activity past the $150 million mark.

Ondas said that it had received new orders for its autonomous defense systems, including anti-drone systems, loitering munition systems (LMS), ground systems and related defense services from governmental and defense customers across multiple international markets. 

"Counter-UAS has become an urgent priority for governments around the world as drone threats continue to accelerate, and we are now seeing the next major wave of demand forming around Loitering Munition Systems and affordable long-range precision engagement,” said Eric Brock, Chairman and Chief Executive Officer at Ondas. 

Brook also said that the company is seeing demand across Europe and the U.S., where defense customers are looking to strengthen their defensive and offensive autonomous capabilities.

At the time of writing, ONDS stock was down over 3% on Monday.

Ondas’ June Order Build Up

Orders received in June add up to the company’s previous orders of over $30 million in May across air defense, Counter-UAS, autonomous ISR, robotic systems and precision engagement technologies.  

With these awards and orders, the company has crossed the mark of $150 million in the second quarter, showing an increased demand for its integrated autonomous systems architecture.

"In a short period of time, Ondas has assembled and integrated what we believe to be some of the most advanced and operationally proven autonomous technologies available anywhere in the world," said Oshri Lugassy, Co-Chief Executive Officer at Ondas Autonomous Systems.

The company sees continued demand for autonomous defense systems that can deliver scalable, cost-effective and integrated mission capabilities across segments such as Counter-UAS, LMS, ISR, ground robotics, electronic warfare and AI-enabled command-and-control.

Rotron’s Successful Trial With The United Kingdom

Ondas added that its unit Rotron recently completed a successful flight trial of its SkyLance system under the UK Ministry of Defence's Project Brakestop. SkyLance is built for precision hits and a one-way attack system that covers a substantial operational range.

This program aims to advance the United Kingdom's next-generation long-range strike capability.

What Retail Thinks Of ONDS

On Stocktwits, retail sentiment surrounding the stock has improved to ‘neutral’ from ’bearish’ amid ‘low’ message volumes in the past 24 hours. 

ONDS stock has declined by more than 19% so far this year.

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