NEW YORK, July 2, 2026, 06:02 EDT
- Ondas finished July 1 down 3.88% at $7.92. Trading volume was 88.57 million shares, 131% of its 65-day average.
- The stock was at $7.96 in premarket trading at 5:55 a.m. EDT. Nasdaq opens for regular trade at 9:30 a.m. EDT. U.S. stock markets are closed July 3 for the Independence Day holiday.
- Short interest was at 167.52 million shares, or 32.70% of the float. A June 26 SEC filing showed 3.38 million acquisition shares registered for resale.
- Ondas has a market cap of $4.14 billion, which is roughly 10.6x its 2026 revenue goal of at least $390 million.
Ondas Inc. NASDAQ:ONDS is showing up as another crowded short-interest play early Thursday, alongside its reputation as a defense-drone stock. Shares dropped 3.88% Wednesday, ending at $7.92, after ranging from $7.85 to $8.44. The stock was last at $7.96 in premarket trade, up 0.51% at 5:55 a.m. EDT, ahead of the regular Nasdaq open. Nasdaq lists normal hours as 9:30 a.m. to 4 p.m. Eastern, with U.S. markets set to close on Friday, July 3, for the Independence Day holiday.
Volume hit 88.57 million shares on Wednesday, or 131% of the 65-day average, and that’s about 53% of reported short interest. MarketWatch put short interest at 167.52 million shares as of June 15, or 32.70% of the float. This is the kind of tape where supply, borrow pressure, and news can swing the stock either way.
| Measure | Latest reading | Investor read-through |
|---|---|---|
| July 1 close | $7.92, down 3.88% | Shed gains into the close even with strong volume |
| Premarket quote | $7.96, up 0.51% | Shares bounced slightly in premarket trading |
| July 1 volume | 88.57 million shares | About 1.3 times usual levels |
| Short interest | 167.52 million shares | 32.70% of available shares |
| 52-week range | $1.71 to $15.28 | Well off both ends of the yearly range |
| Market value | $4.14 billion | Roughly 10.6x targeted revenue for 2026 |
Supply is thinner than current trading, but shares are available. Ondas’ June 26 SEC prospectus supplement registered 3,378,084 shares for resale by stockholders linked to the Omnisys and World View deals. The filing said proceeds from these sales wouldn’t go to Ondas. Omnisys sellers are limited to selling up to 15% of the 10-day average daily volume per day, while some World View sellers have a 5% daily cap for six months.
The block up for resale amounts to just 0.64% of the 526.54 million shares listed as outstanding in the filing. That’s roughly 3.8% of Wednesday’s trading volume. The story isn’t just about dilution. The key is timing. This small defense name, with a third of its float short, is working through fresh acquisition shares that are now eligible to hit the market under certain restrictions.
| Growth case | Figure | Pressure point |
|---|---|---|
| Q1 2026 revenue | $50.1 million | Adjusted EBITDA loss came in at $10.9 million |
| 2026 revenue target | At least $390 million | Stock trades at about 10.6 times that number |
| Pro forma backlog | $457 million | Company still needs to ramp revenue |
| June defense orders | More than $40 million | Shares dropped in the last session |
| Q2-to-date orders | More than $150 million | Resale overhang hasn’t cleared from the float |
Ondas said it booked over $40 million in June orders for autonomous defense tech, bringing second-quarter orders so far to more than $150 million. CEO Eric Brock called the June orders proof of “increasing demand for autonomous defense technologies.” Co-CEO Oshri Lugassy said, “C-UAS remains one of the most urgent requirements.” Ondas Inc.
Ondas’ investor page shows its most recent release is a June 23 announcement on a collaboration with Lockheed Martin NYSE:LMT through its Sentrycs business. The deal puts Sentrycs’ Cyber-over-RF tech inside Lockheed’s Sanctum counter-drone platform. Lockheed’s senior program management manager, Matt Bahnemann, said the technology adds more “layered sensing and response options.” Ondas Inc.
Ondas added to its M&A activity June 18, saying it plans to buy Cyberhawk in a deal worth about $125 million. Ondas said about 95% of the purchase price will be paid in cash. Cyberhawk is set to bring over 300 customers, projected revenue topping $45 million for the year ending March 2027, and a $95 million order backlog. Cyberhawk CEO Chris Fleming said the tie-up could “fundamentally reduce risk and human exposure” for clients. Ondas Inc.
The higher valuation narrows the margin for error on timing. In May, Ondas bumped up its 2026 revenue goal to at least $390 million, supported by $457 million in pro forma backlog. CEO Brock said the backlog gave “strong visibility into our 2026 targets.” The company, in the same statement, also said adjusted EBITDA losses would keep running high in the second quarter, likely hitting their peak. Ondas Inc.
