Ondas Holdings (ONDS) Stock News Today, November 22, 2025: S‑8 Filing, Institutional Moves and Drone‑Defense Deals After a 7% Jump

Ondas Holdings Inc. (NASDAQ: ONDS) heads into the weekend still riding one of 2025’s most explosive rallies in defense and autonomous systems — and today’s tape brings a fresh mix of regulatory filings, institutional moves and valuation debate for investors to digest.

As of the latest trade around Friday’s close, Ondas shares were changing hands near $6.73–$6.74, up roughly 7% on the day, after trading between about $5.95 and $6.88 with more than 130 million shares exchanged — over twice the recent average daily volume. ^[1]

Different data providers now peg ONDS’ 12‑month return anywhere from ~650% to more than 900%, underscoring just how violent the re‑rating has been as the company pivots into defense drones, counter‑UAS and military robotics. ^[2]

Below is a rundown of what matters for Ondas stock today, November 22, 2025.

Ondas stock today: price, volume and basic profile

Last price: about $6.73–$6.74
Daily move: roughly +7.4% versus Thursday’s close near $6.27 ^[3]
Intraday range (Friday):$5.95 – $6.88
Volume: ~130.8 million shares, vs. an average of ~57.6 million ^[4]
Market cap: around $2.3–2.5 billion at current levels ^[5]
52‑week range:$0.57 – $11.70 ^[6]
Valuation snapshot: trailing P/E is still negative (~‑17x), reflecting continued losses despite rapidly rising revenue. ^[7]

Ondas operates two main segments: Ondas Autonomous Systems (OAS) — focused on autonomous drones, counter‑UAS and ground robotics — and Ondas Networks, which sells private wireless networking based on the IEEE 802.16t standard for rail, utilities and industrial customers. ^[8]

Today’s fresh headlines for ONDS (22 November 2025)

1. Foundations Investment Advisors trims ONDS position

A new 13F‑linked article from MarketBeat, published November 22, shows Foundations Investment Advisors LLC cutting its Ondas position by 69.8% in Q2. The firm sold 40,500 shares, leaving it with 17,500 shares worth roughly $34,000 at the time of the filing. ^[9]

MarketBeat notes that a cluster of other institutions — including SBI Securities, Charles Schwab Investment Management, XTX Topco, Penbrook Management and Exencial Wealth Advisors — hold relatively small ONDS positions, and estimates that about 37.7% of the float is now institutionally owned. ^[10]

Why it matters:

The Foundations sale is not huge in dollar terms, but it’s a reminder that some early holders are taking profits after a massive run.
At sub‑40% institutional ownership, ONDS still isn’t “crowded,” leaving room for further buying from funds if the story continues to execute.

2. New Form S‑8: 35 million extra shares for equity incentives

The biggest regulatory development in focus this weekend is a new Form S‑8 filed on November 21, 2025. In that filing, Ondas registers 35,000,000 additional common shares for its 2021 Stock Incentive Plan, as amended. ^[11]

Key points from the S‑8 and related disclosures: ^[12]

On October 8, 2025, the Board approved an increase in the plan’s share authorization from 26 million to 61 million shares, subject to shareholder approval.
At a special meeting on November 20, 2025, shareholders approved that “Plan Increase.”
The new S‑8 only registers the incremental 35 million shares, on top of the 26 million already registered in earlier S‑8s.
With roughly 368.5 million shares outstanding, those 35 million plan shares equal about 9–10% of the current share count if fully granted and exercised. ^[13]

Implications for investors:

Positive:
- Gives Ondas a much larger equity “currency” to attract and retain AI, robotics and defense talent in a brutally competitive labor market.
- Provides flexibility to use stock‑based pay as the group scales globally.
Risk:
- Over time, if the full 35 million shares are granted and exercised, existing holders face meaningful dilution layered on top of 2025’s already heavy equity issuance. TechStock²+1

Recent 8‑Ks around the special meeting also point to broader charter amendments that significantly expand authorized common and preferred stock, giving Ondas room to fund more M&A or capital raises if needed. TechStock²+1

3. Valuation debate: Simply Wall St calls ONDS “undervalued” after 156% surge

A new Simply Wall St analysis published November 22 asks whether Ondas is still worth a closer look after a 156% year‑to‑date surge and a multi‑hundred‑percent 12‑month gain. ^[14]

Highlights from that piece:

Their discounted cash‑flow (DCF) model suggests a fair value of about $18.28 per share, implying ONDS trades at roughly a 60% discount to intrinsic value if long‑term growth assumptions are met. ^[15]
On a price‑to‑book (PB) basis, Ondas trades near 5.1x book, which their framework views as roughly “about right” once growth and risks are factored in. ^[16]

Put simply: one widely followed fundamental screen still sees material upside potential, but that view leans heavily on aggressive long‑term cash‑flow improvement and successful execution of the drone/defense strategy.

4. TS2 / TechStock²: “Drone‑defense story” framed around Sentrycs, PDW and the S‑8

A long TechStock² (TS2) article dated November 22 pulls together today’s S‑8 filing, recent institutional activity and the earlier Sentrycs acquisition, PDW investment and Iron Drone Raider airport contract into a single “drone‑defense” narrative for Ondas. TechStock²+1

Key takeaways from that coverage:

ONDS’ rally is being driven less by meme‑style speculation and more by a cluster of concrete contracts and M&A deals in drones, counter‑UAS and combat robotics.
The S‑8 and charter changes are interpreted as part of an “equity‑powered” growth model — funding rapid expansion via stock issuance and incentives rather than traditional debt. TechStock²
Even after the surge, the author notes ONDS remains high‑risk, citing ongoing losses, heavy integration demands and potential future dilution.

Strategic deals that still anchor the ONDS story

Most of today’s headlines are filings and ownership data, but they sit on top of a busy two‑week news cycle that transformed how the market views Ondas.

Sentrycs acquisition adds a cyber counter‑drone layer

On November 18, 2025, Ondas closed its acquisition of Sentry CS Ltd (Sentrycs), an Israel‑based specialist in Cyber‑over‑RF, protocol‑manipulation counter‑UAS tech. ^[17]

From the company’s own description:

Sentrycs technology can identify, track and take control of rogue drones at the protocol level without jamming or interfering with other communications — critical in airports and dense cities. ^[18]
The platform is already deployed in roughly 200 installations across more than 25 countries, serving defense, public safety and critical‑infrastructure customers. ^[19]

By folding Sentrycs into the OAS suite alongside Iron Drone Raider (kinetic interceptor drones) and AI‑driven command‑and‑control, Ondas is pitching a layered counter‑UAS stack: detection → cyber takeover → physical interception. ^[20]

$35 million strategic investment in Performance Drone Works (PDW)

Two days later, on November 20, Ondas announced a $35 million strategic investment in Performance Drone Works (PDW), a veteran‑founded U.S. defense‑technology company focused on combat UAS platforms like the C100 and AM‑FPV. ^[21]

According to the press release and follow‑up coverage: ^[22]

PDW’s Drone Factory 01 in Huntsville, Alabama (90,000 sq. ft.) is designed to produce up to 100,000 NDAA‑compliant drones per year, representing about $1 billion in notional annual production value at scale.
Ondas’ capital will help scale production, enlarge PDW’s engineering team and secure a domestically sourced, NDAA‑compliant supply chain. ^[23]
A recent $20.9 million U.S. Army contract for PDW’s C100 UAS highlights that this isn’t a speculative startup but a supplier with active frontline programs. ^[24]

StockTwits notes that Ondas’ PDW announcement sent ONDS more than 5% higher in Thursday pre‑market trading, and that retail sentiment remains “extremely bullish.” ^[25]

$8.2 million Iron Drone Raider order for a major European airport

Earlier last week, Ondas disclosed an approximate $8.2 million purchase order from a major European security agency to deploy multiple Iron Drone Raider counter‑UAS systems at one of Europe’s largest international airports. ^[26]

The systems will be delivered via Ondas’ Airobotics subsidiary, which will act as prime contractor for integration and installation. ^[27]
The airport deployment is framed as Iron Drone Raider’s flagship European reference, with potential to open further critical‑infrastructure deals across the region. ^[28]

Record Q3 2025 results and raised outlook

All of this sits on top of record Q3 2025 earnings, reported on November 13: ^[29]

Revenue:
- Q3 2025 revenue of $10.1 million, up ~582% from $1.5 million a year earlier.
- About $10.0 million came from the OAS unit, showing that autonomous defense and security are now driving the business.
Margins & earnings:
- Gross margin improved to ~26% versus ~3% in the prior‑year quarter, but the company still posted an operating loss of about $15.5 million and a net loss of $7.5 million.
Backlog & guidance:
- OAS backlog reached roughly $22.2 million by quarter‑end.
- Full‑year 2025 revenue target was raised to at least $36 million, and Ondas set a 2026 revenue target of at least $110 million.
Balance sheet:
- Ondas ended Q3 with about $433 million in cash and equivalents and cited pro‑forma cash of roughly $840 million after subsequent equity raises and warrant exercises in October.

Those numbers explain why investors have tolerated heavy dilution: management is using its balance sheet to assemble what it hopes will be a vertically integrated defense‑autonomy platform spanning air, ground, sensing and cyber.

Wall Street and quant views: “Moderate Buy” with double‑digit targets

Analyst ratings and price targets

Both MarketBeat and QuiverQuant point to a constructively bullish but not euphoric analyst stance: ^[30]

Ratings mix:
- Around 5 buy, 1 hold and 1 sell recommendation, summarized as “Moderate Buy.”
Price targets:
- Oppenheimer: “Outperform,” $12 target (11/14/2025).
- Needham: “Buy,” $10 target (11/13/2025).
- HC Wainwright: “Buy,” $12 target (10/06/2025).
- Lake Street Capital: “Buy,” $8 target (09/12/2025).
- MarketBeat’s compiled average sits near $9.20, while QuiverQuant cites a median target around $11.00.

Versus a current price in the high‑$6s, that leaves implied upside in the 30–60% range, if those targets prove accurate.

Hedge fund & institutional interest

QuiverQuant’s tracking of 13F filings shows that 2025’s rally has been accompanied by significant new institutional buying: ^[31]

Funds such as Hood River Capital Management, Jane Street, Renaissance Technologies, Vanguard and Citadel have all added multi‑million‑share positions in Q3 2025.
At the same time, some holders — like AWM Investment Company — have exited, highlighting the contentious nature of the valuation.

Today’s MarketBeat piece on Foundations Investment Advisors fits this pattern: individual funds are adjusting exposure, but overall institutional ownership is trending higher.

Financial health and risk checklist

Even with the bullish narrative, ONDS remains a high‑risk, high‑beta name. Key considerations:

Profitability and cash burn

StockTitan’s data and Ondas’ filings underline that the company is still deeply unprofitable on a trailing basis: ^[32]

TTM revenue: ~$7.2 million (note this figure lags the latest Q3 run‑rate).
TTM net income: about ‑$38 million, implying a net margin worse than ‑500%.
TTM diluted EPS: around ‑$0.61.

The Q3 release shows losses narrowing year‑over‑year thanks to higher revenue and investment income, but operating expenses are still climbing as Ondas builds out OAS and integrates acquisitions. ^[33]

Dilution and capital structure

The company has raised hundreds of millions of dollars in equity in 2025, converted much of its holding‑company convertible debt into stock, and now has a vastly larger share count than a year ago. ^[34]
The new S‑8 and expanded authorized share capital reinforce that equity issuance — whether for employee incentives, acquisitions or additional financings — is central to the strategy. ^[35]

For existing shareholders, that means dilution is a structural feature, not a one‑off event.

Execution and integration risk

In just a few quarters, Ondas has:

Acquired or taken control stakes in Sentrycs, Apeiro Motion, 4M Defense, SPO, Insight Intelligent Sensors and others. ^[36]
Launched Ondas Capital as an investment platform for dual‑use and defense tech. ^[37]
Entered large strategic partnerships and investments like PDW. ^[38]

Integrating this many moving parts — across air, ground, sensing, cyber, manufacturing and finance — is non‑trivial, especially for a company still burning cash.

Sector and regulatory risk

Ondas sits at the intersection of:

Defense budgets and shifting priorities in the U.S., Europe and Israel.
Export controls and ITAR‑like regimes around drones and cyber‑UAS tech.
Airport and critical‑infrastructure security regulation, where tolerance for failures is low and certification is strict. ^[39]

Any changes in these areas could materially impact order flow, deployment timelines or permissible use‑cases.

What ONDS investors should watch next

Looking beyond today’s filings and institutional headlines, a few catalysts stand out for late 2025 and 2026:

Sentrycs integration
- How quickly Sentrycs’ cyber‑takeover capabilities are integrated into Iron Drone Raider and the broader OAS “system‑of‑systems” architecture. ^[40]
PDW production ramp and contract flow
- Evidence that PDW’s Drone Factory 01 is ramping toward high‑volume deliveries — and how Ondas participates economically in future U.S. DoD and allied contracts. ^[41]
European airport deployment milestones
- Successful rollout and potential follow‑on orders tied to the $8.2M Iron Drone Raider airport project. ^[42]
Ondas Networks rail deployments
- Concrete purchase orders and deployments as railroads start adopting 802.16t‑based upgrades on 160 MHz networks, which management sees as a multi‑year opportunity. ^[43]
Capital allocation and share issuance
- How aggressively management uses its enlarged share authorization — primarily for employee incentives, or also for more equity raises and M&A.

Bottom line

For November 22, 2025, the ONDS story is less about a single “new contract” and more about how today’s S‑8 filing and institutional data fit into a fast‑evolving defense‑tech platform story:

The stock is volatile but still trending higher, backed by big volume and growing institutional attention. ^[44]
Ondas is doubling down on equity‑financed growth, with 35 million new incentive shares and expanded authorized capital. ^[45]
Strategic deals — Sentrycs, PDW, Iron Drone Raider at a major European airport — have upgraded its profile from small‑cap industrial tech to emerging defense‑drone and counter‑UAS player. ^[46]
At the same time, the company remains unprofitable, heavily dilutive and operationally complex, making ONDS a high‑risk, story‑driven stock rather than a steady compounder. ^[47]

As always, this article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Prospective investors should do their own research, review Ondas’ SEC filings in detail and consider speaking with a licensed financial adviser before making decisions.

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