NASDAQ: ONDS
Key Data Points
Ondas (ONDS +12.91%), a provider of private wireless, drone, and automated data solutions, closed Friday at $11.02, up 12.91% for the session. Trading volume reached 134.2 million shares, coming in about 57% above its three-month average of 85.5 million shares.
Friday’s catalysts centered on Ondas’ rebranding and headquarters move. On Wednesday, the company also reported new defense-related orders. Investors will be watching how these shifts translate into recurring autonomous-systems revenue. Ondas IPO'd in 2020 and has grown 85% since going public.
How the markets moved today
The S&P 500 (^GSPC +0.19%) added 0.19% to finish at 6,858, while the Nasdaq Composite (^IXIC 0.03%) slipped 0.03% to 23,236. Industry peers AeroVironment (AVAV +5.91%) and Draganfly (DPRO +6.37%)both gained on the back of demand for autonomous and intelligence-driven platforms.
What this means for investors
Today follows a strong week for Ondas, which is up over 20% in the past five days. It just announced it would change its name from Ondas Holdings to Ondas Inc as part of its focus on global defense and security. In a similar vein, the company has moved its corporate headquarters to West Palm Beach, Florida, a key technology, defense, and global business hub.
Earlier this week, Ondas said its autonomous systems portfolio had received around $10 million in new orders, reflecting demand for its air and ground systems. That's on top of over $16 million in Q4 orders for an autonomous border-protection system that will deploy thousands of drones.
