Ondas Holdings (NASDAQ: ONDS) stock slipped around 4% on November 28, 2025, as traders digested a week of explosive gains, major M&A news, big insider selling and fresh institutional buying in the high‑flying defense robotics name.
ONDS stock at a glance – 28 November 2025
- Last close: about $7.89 per share, down 4.3% on the day
- Day’s range: roughly $7.81 – $8.46
- Volume: ~32.1 million shares in a shortened post‑Thanksgiving session (market close 1:00 p.m. ET) [1]
- 52‑week range:$0.57 – $11.70 [2]
- Market cap: around $3 billion, depending on intraday price moves [3]
- 1‑year performance: about +900% over the past 12 months, and 200%+ year‑to‑date [4]
Today’s action marks a third straight down day after a spectacular rally earlier in the week that saw ONDS jump nearly 30% on Monday alone as investors piled into its defense‑robotics story. [5]
Why is ONDS stock down today?
Profit‑taking after a parabolic run
After closing at $8.72 on Monday, November 24, Ondas shares have eased lower each subsequent trading day, ending this Friday near $7.9 — still far above early‑November levels, but off the recent highs. [6]
A morning note from GuruFocus flagged that ONDS was down about 4.1% to $7.91 in today’s session, highlighting ongoing volatility and elevated valuation metrics. [7]
Key points from that piece:
- The stock fell a little over 4% intraday, to roughly $7.9
- Ondas operates with strong liquidity (current ratio ~15.3, quick ratio ~14.9) but
- Still posts deep losses, with operating and net margins strongly negative and a high beta (~5), underscoring how volatile the name has become [8]
In other words, a stock that’s up almost ten‑fold in a year and still losing money doesn’t need much of a catalyst for traders to lock in gains.
Intraday coverage: “-3.3% in intraday trading”
An afternoon recap from Stocks Telegraph framed today’s move as a 3.3% intraday dip to about $7.97, linking the weakness directly to investor reaction around the company’s latest acquisition. [9]
That article emphasised:
- ONDS was trading just under $8
- The pullback comes shortly after the announced acquisition of Roboteam Holdings Ltd.
- Despite the drop, overall sentiment remains “Buy”, backed by a higher price target from Lake Street Capital
Taken together with the earlier GuruFocus alert, the message is consistent: today looks more like consolidation and digestion of big news than a thesis‑breaking event.
The big ONDS headlines on November 28, 2025
Here’s how today’s most important ONDS‑related stories line up.
1. Fresh analysis: “Cautiously Bullish on Explosive Revenue Growth”
A new Seeking Alpha analysis titled “Ondas Holdings: Cautiously Bullish On Explosive Revenue Growth” landed today and is prominently listed on StockAnalysis under ONDS news. [10]
From available summaries and recent earnings coverage:
- Q3 revenue surged to about $10.1 million from $1.5 million a year earlier — more than 6x growth [11]
- The company reported a backlog of roughly $23.3 million, even before layering in the newly announced deals [12]
- Management has signalled strong growth expectations for 2025–2026, driven by autonomous drone and robotics platforms
However, the tone is not blindly bullish. The analysis also points out:
- Persistent operating losses and negative margins
- Heavy reliance on continued M&A and equity issuance to fund growth
- Very rich valuation multiples versus current revenue
In other words: the growth story is impressive, but expectations are already sky‑high.
2. XTX Topco Ltd massively increases its ONDS stake
One of today’s cleanest bullish signals comes from institutional ownership data.
A MarketBeat “instant alert” reports that XTX Topco Ltd boosted its position in Ondas by an eye‑popping 2,796% in Q2, buying 824,096 additional shares and bringing its total holdings to 853,568 shares, or about 0.48% of the company, worth roughly $1.64 million at the time of the filing. [13]
The same article notes:
- Overall institutional ownership in ONDS stands around 38%
- A cluster of smaller funds has also initiated or increased positions
For a relatively young, high‑volatility small‑cap, seeing a large quantitative trading firm and a growing roster of institutions on the shareholder list tends to support the “this is not just a retail meme” narrative.
3. Insider sells $6.7 million in stock
On the other side of the ledger, insider selling has been in the spotlight today.
MT Newswires, via MarketScreener, reports that an Ondas insider off‑loaded shares worth about $6.73 million, based on a recent SEC filing. [14]
MarketBeat’s write‑up of the same filing reveals more detail:
- Director Ron Stern sold 850,000 shares on November 26, 2025
- The average sale price was $7.91, for total proceeds of roughly $6.72 million
- Company insiders now own about 1.6% of ONDS shares [15]
GuruFocus previously flagged a pattern of net insider selling over the past three months, which, combined with the earlier $425 million stock and warrants offering in October and a new shelf registration for additional shares, reinforces investor concerns about dilution and insider profit‑taking at elevated prices. [16]
Insider sales don’t automatically mean trouble — executives often diversify after big gains — but the timing, right after a huge rally, naturally makes traders cautious.
4. Real‑time “stock down 4%” alert and valuation snapshot
The GuruFocus piece “Ondas (ONDS) Stock Declines Over 4% Amid Market Activity” gives an updated snapshot of the company’s balance sheet and valuation profile as of today: [17]
Highlights include:
- Financial strength:
- Current ratio ~15.3, quick ratio ~14.9
- Debt‑to‑equity around 0.04, indicating minimal leverage
- Profitability challenges:
- Operating margin around ‑176%
- Net margin around ‑172%
- Return on equity roughly ‑34%
- Valuation:
- Price‑to‑sales (P/S) near 46x
- Price‑to‑book (P/B) around 5.4x
The article also notes an Altman Z‑Score above 40, implying very low near‑term bankruptcy risk, but emphasises the high beta (~4.97) and options‑like volatility. [18]
For investors, the message is straightforward: Ondas looks financially sturdy but extremely expensive and volatile.
The bigger story driving ONDS: deal spree and record Q3
Today’s trading can’t really be understood without the context of a remarkable November for Ondas.
Record Q3 2025 results
On November 13, Ondas announced record third‑quarter 2025 results: [19]
- Revenue jumped to $10.1 million, from about $1.5 million in Q3 2024
- Growth was driven mainly by the Ondas Autonomous Systems (OAS) segment, especially the Optimus autonomous drone system and Iron Drone Raider counter‑UAS platform
- The company described a backlog of roughly $23.3 million, and management commentary has pointed to a robust pipeline for 2025 and 2026
Despite the big top‑line acceleration, Ondas remains unprofitable, and its long‑term story still depends on scaling margins and integrating a rapidly expanding portfolio of acquisitions.
Roboteam acquisition – multi‑domain autonomy
On November 25, Ondas announced a definitive agreement to acquire Roboteam Holdings Ltd., a global developer of rugged tactical unmanned ground vehicles (UGVs) used for explosives disposal, ISR and hazardous‑environment missions. [20]
Key terms and expectations:
- All‑cash deal worth $80 million
- Roboteam’s systems are deployed by militaries in 30+ countries, including the U.S. Marine Corps and the Israeli Ministry of Defense
- Management expects Roboteam to contribute $3–4 million in Q4 2025 revenue and at least $30 million in 2026
- Strategically, Roboteam adds combat‑proven ground autonomy, allowing Ondas to offer a “system‑of‑systems” spanning air, ground and counter‑drone intelligence platforms
This acquisition is the central focus of today’s Stock Telegraph article and a key reason analysts, including Lake Street’s Max Michaelis, have recently lifted their ONDS price targets to $10. [21]
$35 million stake in Performance Drone Works (PDW)
Just days earlier, on November 20, Ondas announced a $35 million strategic investment in Performance Drone Works (PDW), a U.S. defense contractor specializing in combat robotics. [22]
Highlights:
- PDW’s “Drone Factory 01” in Huntsville, Alabama, has capacity to produce up to 100,000 NDAA‑compliant advanced drones per year, representing around $1 billion in potential annual output at full capacity
- Ondas’ investment is aimed at scaling production, building engineering headcount and securing domestic supply of compliant components
This deal, combined with Roboteam and the earlier Sentrycs counter‑UAS acquisition, has turned Ondas into a central consolidator in autonomous defense systems. [23]
Major European airport security contract
Amid the deal spree, Ondas also announced an $8.2 million order from a major European security agency to protect one of Europe’s largest airports with multiple Iron Drone Raider systems. [24]
This contract:
- Provides near‑term revenue visibility
- Validates the real‑world deployment of its counter‑drone platform in high‑security environments
- Strengthens the investment narrative around airports, critical infrastructure and defense customers needing automated airspace protection
All of this explains why ONDS has become one of the most actively traded small‑cap tech names in recent weeks — and also why today’s relatively modest pullback after a huge run is attracting so much coverage.
Analyst views: bullish targets, but not universal agreement
The MarketBeat coverage of XTX Topco’s stake also summarizes the latest analyst ratings: [25]
- Oppenheimer recently upgraded Ondas from “Market Perform” to “Outperform” and set a $12 price target.
- Loop Capital and Lake Street have $10 targets and Buy ratings, with Lake Street explicitly citing the Roboteam acquisition and its expectation that Ondas can exceed a $110 million revenue goal for next year. [26]
- Zacks has dialed its view down from “Strong Buy” to “Hold”, and Weiss Ratings assigns a “Sell (D‑)” grade, highlighting the downside of the stock’s rapid run‑up and rich valuation. [27]
MarketBeat calculates an average target price of about $9.67 and an overall rating of “Moderate Buy” across covering firms. [28]
In short: Wall Street is mostly bullish, but not unanimously so, and the latest insider selling plus prior large equity offerings are firmly on skeptics’ radar.
Volatility watch: options market still pricing big swings
Options analytics for ONDS show just how wild traders expect this ride to remain.
For options tied to November 28, 2025, data from an options‑analytics platform earlier this week indicated implied volatility around 121%, with an expected move of about ±$0.77 (±11%) into expiration. [29]
Today’s roughly 4% spot move actually sits inside that expected range, underscoring that double‑digit daily swings are considered normal for this stock right now.
What today’s ONDS move could mean for investors
Nothing in this article is investment advice. Always do your own research and consider speaking with a licensed financial adviser before making investment decisions.
From an informational standpoint, here’s how today’s developments fit into the broader ONDS story.
Bullish talking points
- Real business traction: Record Q3 revenue, a growing backlog and contracts like the $8.2 million European airport deal show that Ondas’ platforms are not just prototypes — they’re being deployed in demanding environments. [30]
- Strategic positioning: The Roboteam and PDW deals give Ondas a rare combination of air, ground and counter‑drone autonomy, plus manufacturing capacity that could matter in an era of rising defense spending. [31]
- Strong balance sheet metrics: Low debt and high liquidity reduce near‑term solvency risk, giving management flexibility to integrate acquisitions and invest in growth. [32]
- Supportive analyst and institutional interest: Multiple buy‑rated targets above the current price, and a large position from XTX Topco, suggest that sophisticated investors see further upside potential, even after the run. [33]
Bearish / cautionary talking points
- Extreme valuation: With P/S ratios measured in the tens of times revenue and P/B still elevated, Ondas is priced for very aggressive growth and successful execution. Any stumble could hit the stock hard. [34]
- Ongoing dilution risk: The recent $425 million stock and warrants offering, a new shelf registration, and shareholder votes expanding authorized shares highlight the company’s reliance on equity raises, which can dilute existing holders. [35]
- Insider selling: The sizeable sale by Director Ron Stern right after a major rally is not, by itself, a verdict on fundamentals — but it does make some traders wary. [36]
- High volatility and speculative profile: A beta near 5, triple‑digit implied volatility and rapid multi‑hundred‑percent moves in a matter of weeks mean ONDS behaves more like a speculative high‑risk asset than a steady compounder. [37]
For short‑term traders, today’s drop looks like part of a normal cool‑off after a parabolic ramp, with news flow still dominated by big defense‑robotics catalysts.
For longer‑term investors, the key questions are:
- Can Ondas integrate Roboteam, PDW and Sentrycs successfully?
- Will the defense and airport‑security pipelines translate into sustainable, margin‑accretive revenue rather than just headline growth?
- How much additional dilution will be required to fund this expansion?
Bottom line on ONDS stock today (28 November 2025)
Ondas Holdings entered this holiday‑shortened Friday as one of the most talked‑about small‑cap stocks in the market, thanks to:
- Record Q3 growth
- A rapid expansion into multi‑domain defense robotics
- A breathtaking share‑price rally
By the closing bell, ONDS had given back about 4%, amid headlines about insider selling, institutional buying, analyst upgrades and lingering concerns about valuation and dilution. [38]
Whether today’s move is just a pause in a bigger uptrend or an early sign that the market is re‑rating risk in the name will depend on how well Ondas now delivers on the very ambitious expectations its own deals and guidance have created.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment, legal, tax or financial advice. Markets and company fundamentals can change rapidly; always verify current data before making decisions.
References
1. stockanalysis.com, 2. www.marketbeat.com, 3. www.gurufocus.com, 4. www.investing.com, 5. stockanalysis.com, 6. stockanalysis.com, 7. www.gurufocus.com, 8. www.gurufocus.com, 9. www.stockstelegraph.com, 10. stockanalysis.com, 11. www.gurufocus.com, 12. seekingalpha.com, 13. www.marketbeat.com, 14. www.marketscreener.com, 15. www.marketbeat.com, 16. www.gurufocus.com, 17. www.gurufocus.com, 18. www.gurufocus.com, 19. www.gurufocus.com, 20. ir.ondas.com, 21. www.investing.com, 22. ir.ondas.com, 23. ir.ondas.com, 24. ir.ondas.com, 25. www.marketbeat.com, 26. www.investing.com, 27. www.marketbeat.com, 28. www.marketbeat.com, 29. optioncharts.io, 30. www.gurufocus.com, 31. ir.ondas.com, 32. www.gurufocus.com, 33. www.marketbeat.com, 34. www.gurufocus.com, 35. www.gurufocus.com, 36. www.marketbeat.com, 37. www.gurufocus.com, 38. stockanalysis.com
