Ondas Inc (NASDAQ:ONDS) shares were down during premarket trading on Friday. This slight pullback follows a volatile week for the drone-related defense firm, which has recently seen gains fueled by rising international tensions.
Earlier in the week, investors piled into defense names like Ondas amid renewed worries regarding a potential U.S. strike on Iran. Prediction markets sharply increased the implied odds of military action after reports signaled the Trump administration was edging closer to a strike.
NATO and European Contract Wins
The company’s momentum has also been supported by significant contract wins. Ondas recently secured a “multi-million dollar” order for its Iron Drone Raider system from a customer in a NATO country.
Historic Israel-Syria Demining Program
In addition to counter-UAS technology, Ondas’ smart demining subsidiary, 4M Defense, won a tender valued at over $30 million for a land-clearance program along the Israel-Syria border. The project covers approximately 741 acres and represents one of the largest demining efforts ever undertaken in Israel.
Technical Analysis
Ondas Inc. has shown remarkable growth over the past 12 months, with a surge of 719.42%. The stock is currently trading well above its moving averages, indicating strong bullish momentum in the medium to long term.
Specifically, it is 7.1% above its 20-day SMA and 23.8% above its 100-day SMA. Additionally, the stock is trading at $11.21, closer to its 52-week high of $15.28 than its low of 57 cents.
The technical indicators further underscore this momentum. The RSI stands at 54.37, suggesting a neutral market sentiment, while the MACD is currently bullish, with the MACD line above the signal line.
Short interest in Ondas climbed in the most recent reporting period, increasing from 80.60 million shares to 114.22 million. That represents 27.08% of the company’s public float being sold short. With an average daily trading volume of 109.10 million shares, it would take approximately 1.05 days for short sellers to cover their positions.
ONDS Price Action: Ondas shares were down 3.51% at $10.99 at the time of publication on Friday, according to Benzinga Pro data.
Photo by T. Schneider via Shutterstock
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