Ondas (ONDS) has just landed multi million dollar contracts with government customers in Europe and Asia for its Counter UAS systems, while new U.S. funding programs are spotlighting its drone detection and mitigation offerings.
Despite the contract wins, Ondas' recent share price return has been weak, with the stock down 23.2% over the past week and 39.7% over 90 days. However, the 3 year total shareholder return is very large, signalling long term holders have still seen substantial value creation.
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Fresh contracts, a sharp pullback and a very large 3 year return put Ondas in a tricky spot. Is this the moment to step in, or does patience offer a better entry as the valuation picture comes into focus next?
Most Popular Narrative: 33% Undervalued
Ondas last closed at $5.27, while the most followed valuation story on the stock, according to DownUnder, sees fair value at $7.89, which implies meaningful upside in that framework and sets the stage for a growth heavy thesis.
If I consider a 3y growth of 80% (I don't thin...