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      Insider Buying Propelled The Ondas (ONDS) Stock Last Session

      By Fahim Awan

      Published on

      November 27, 2023

      12:09 PM UTC

      Insider Buying Propelled The Ondas (ONDS) Stock Last Session

      Ondas Holdings Inc. (NASDAQ: ONDS) shares experienced a surge of 6.35%, concluding the weekend session at $1.34. This ascent was prompted by notable insider trading activities disclosed last Friday. According to the Securities and Exchange Commission (SEC) filing, Joseph V Popolo, a 10% stakeholder in Ondas (ONDS), acquired 21,278 shares through two distinct transactions. The average purchase price per share was $1.165, resulting in a total investment of $250,825. As a result, the 10% owner’s holdings in ONDS now amount to 1,284,245 shares.

      The wholly-owned subsidiary of ONDS, Airobotics Ltd, has expedited the enhancement of its counter-Unmanned Aerial System (UAS), the Iron Drone Raider. This initiative aims to cater to the requirements of the Israeli Defense and homeland security forces amid the ongoing conflict in Gaza.

      Collaborating with major Israeli defense companies, Airobotics’ teams are refining the interception system to meet specific defensive needs emerging from the field. The Iron Drone’s distinctive integrated AI-based interception drone system enables the elimination of small hostile drones, proving effective against various types, whether controlled or pre-programmed for flight, including those not reliant on a pilot’s command and control radio-link.

      The Ondas subsidiary is in the final stages of development to promptly deploy the Iron Drone Raider system, addressing operational demands arising from the field. By utilizing this technology, customers can mitigate the escalating threat posed by the proliferation of small hostile drones, thereby safeguarding lives.

      Small drones are increasingly utilized as weapons for aerial surveillance and attacks, necessitating various defense methods. The Iron Drone Raider system, upon detecting a small hostile drone, autonomously launches a swift interceptor drone equipped with advanced AI vision.

      This interceptor tracks and locks onto approaching hostile drones, subsequently incapacitating them using a net and a parachute to safely lower them to the ground. The complete sequence, covering identification, implementation, monitoring, and apprehension, is entirely automated, eliminating the necessity for human guidance.

      The realm of investments in anti-unmanned aerial systems (counter-UAS) is anticipated to expand from around $1.0 billion in 2023 to a projected magnitude surpassing $4.7 billion by 2030.

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