ONDS Stock Rises Overnight: Retail Bulls Eye Return To Double-Digit Price As Q2 Results Loom

• Wall Street expects Ondas to report nearly $68 million in Q2 revenue, up 978% year-on-year. 
• Roth Capital rates the stock Buy, citing growth potential in a $100 billion defense market.
• Ondas secured several major August deals, including Israeli tactical drone work. 

Ondas stock gained overnight ahead of a closely watched second-quarter (Q2) earnings report, with retail investors betting that the defense technology company can extend its recent rally. The stock has gained more than 30% over the past month as a series of military, security and autonomous-systems developments has strengthened the bullish case.

Wall Street Sees Nearly 10X Revenue Growth For Ondas

According to Fiscal AI data, Wall Street now expects the company to deliver roughly $67.97 million in second-quarter revenue, a dramatic 978% increase from the same period last year. The forecast reflects the expanding contribution from Ondas Autonomous Systems and a much larger business following recent acquisitions and contract wins. The company is slated to report Q2 earnings on Thursday. 

On Monday, Roth Capital analyst Scott Searle initiated Ondas with a ‘Buy’ rating and a $13 price target, implying a 33% upside to the stock’s last close. He says that after making 14 acquisitions, Ondas has grown into a stronger and more diverse company focused on autonomous defense technology. Searle believes the company is well positioned to benefit from a defense market that could be worth more than $100 billion. 

Ondas stock traded over 1% higher overnight, at about $9.9, and is headed for its second week of gains. 

Ondas Defense Orders Accelerate

The company has entered August with a rapid sequence of announcements. Ondas said it had been chosen to work on a new generation of tactical attack drones for Israeli defense forces. It also completed its purchase of Cyberhawk, adding AI capabilities aimed at monitoring critical infrastructure.

Ondas has also bagged a contract with the Air Force Research Laboratory involving autonomous long-distance delivery technology. Separately, a U.S. Army order worth more than $50 million expanded the company's involvement in unmanned lethal systems.

What Are ONDS Retail Traders Saying? 

On Stocktwits, retail sentiment for ONDS improved to ‘extremely bullish’ from ‘bullish’ territory the previous day. The stock saw a 126% increase in message volume over the past week with a 1.9% gain in watchers. 

Retail traders are focused on the possibility that the shares could eventually return to double-digit territory, last seen in early June, following earnings results.

A user said, “12-14 on earnings. Maybe 15 this time. Usually has its final run up on day after earnings.”

Another user said, “Revenue backlog will be strong but if they are break even or close to profit that gets us to 20.”

A third user said, “Tomorrow we're going to hit it out of the park.”

ONDS stock has slipped 0.2% year-to-date. 

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