At the time of last check, the shares of Ondas Holdings Inc. (ONDS) had risen 6.17% to $ 8.26 in premarket trading. The ONDS stock closed at $7.78 on Thursday, down -0.26%. ONDS stock volume was 0.3 million shares, which is lower than the average daily volume of 0.54 million shares over the past 50 days. The price of ONDS stock has dropped by -48.13% over the last year, and it has fallen by -3.23% in the past week.
The ONDS stock has gained 16.82% over the past three months, while it has shed -38.74% over the past six months. ONDS currently has a market value of $268.41 million, and its outstanding shares stand at 26.67 million. ONDS stock surged after announcing that acquisition had been completed.
What acquisitions has ONDS Stock made?
Ondas Networks Inc., a wholly-owned subsidiary of Ondas, develops proprietary wireless broadband technology for large established and emerging markets. ONDS’ full-bandwidth software-defined radio platform, FullMAX, allows MC-IoT applications to overcome the bandwidth constraints of today’s private licensed wireless networks.
Railroads, utilities, oil and gas, transportation, aviation (including drone operators), and government entities are among the end markets served by Ondas Networks. In many of these markets, which are located in challenging radio frequency environments, reliable, secure broadband communications are required over large geographical areas. ONDS’ FullMAX technology enables customers to build their own licensed broadband wireless networks.
American Robotics, Inc. has been acquired by Ondas, the company announced yesterday. In addition to developing highly automated commercial drone systems, American Robotics is the first company authorized by the FAA to operate drones beyond visual line of sight (“BVLOS”) without a human operator on site. With the merger, Ondas Networks and American Robotics will be able to provide better connectivity and data collection services to users in rail, agriculture, utilities, and critical infrastructure markets.
Nearly 99.7 percent of the voting shareholders of ONDS supported the acquisition. Due to its industrial design and AI-driven software, the Scout System from American Robotics provides unparalleled autonomy, safety, and analytical capabilities. ONDS’ FullMAX technology can be integrated into a mission-critical wireless network powered by ONDS’ Scout System for ultimate data collection and analysis at the edge of industrial field area networks. It is possible for American Robotics’ highly automated drones to conduct up to 20 automated flights every day without any visibility and without a pilot on the ground.
How did ONDS maintain its support for American Robotics?
To enable American Robotics to begin scaling their sales and customer service departments, Ondas (ONDS) advanced American Robotics a $2 million loan in April 2021, leveraging their recently received FAA approval for automated drones. Success is already showing in ONDS’ these efforts as Fortune 100 oil and gas company purchased the Scout System on July 14, 2021, allowing American Robotics to enter a new major industrial market.
