Richard Cohen, a director at Ondas Holdings Inc. (NASDAQ:ONDS), executed multiple transactions involving the company’s common stock on December 19, 2024. Cohen sold a total of 25,306 shares at a price of $1.29 per share, amounting to $32,644. These sales were conducted to cover tax liabilities from the vesting of Restricted Stock Units (RSUs). The stock, which currently trades at $1.47, has shown strong momentum with a 113% gain over the past six months, according to InvestingPro data.
In addition to the sales, Cohen acquired 52,946 shares of common stock through the vesting of RSUs, which were granted as part of his compensation package. These shares were acquired at no cost. Following these transactions, Cohen’s direct ownership in Ondas Holdings stands at 156,069 shares. InvestingPro analysis reveals the company’s volatile nature, with a beta of 2.14, and identifies 15 additional key investment factors. Get the complete analysis and detailed Pro Research Report covering what really matters about ONDS through InvestingPro’s comprehensive coverage of 1,400+ US stocks.
In other recent news, Ondas Holdings has been making significant financial moves. The company has issued new convertible notes, raising $10 million as part of a broader strategy to finance its growth initiatives. This includes the issuance of $4.1 million in 3% Series B-2 Senior Convertible Notes, which will be used for general corporate purposes.
Ondas Holdings also secured an $11.5 million investment primarily to support the growth of its drone business, Ondas Autonomous Systems. Despite facing a challenging Q3 2024 with revenues falling to approximately $1.5 million from $2.7 million in Q3 2023, and an operating loss of $8.7 million, the company managed to secure $14.4 million in orders for its military technology platforms.
Simultaneously, Ondas expanded its 2021 Stock Incentive Plan, increasing the number of shares available for issuance from 8 million to 11 million. The company has also been granted a 180-day extension from Nasdaq to meet the minimum bid price requirement. These developments demonstrate Ondas’ ongoing efforts to meet financial and operational objectives.
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