On June 5, Ondas Holdings fell 5.01% in pre-market trading, trading at $11.38/share, with trading volume of $7.77 million.
On the news front, ongoing selling pressure from CEO Eric A. Brock's share disposition and a secondary offering filing continue to weigh on the stock. Specifically, Chairman and CEO Eric A. Brock received 4.5 million shares of common stock through RSU vesting on June 1-2, with approximately 2.38 million shares sold by the company on his behalf at an average price of $13.43 to cover tax withholding obligations. Concurrently, the company filed with the SEC to allow selling stockholders to offer up to 2.1 million shares of common stock over time at their discretion.
Although the stock saw a brief recovery on June 4 as the market digested the tax-related nature of the CEO's share sale, short-term overhang and dilution concerns have not fully dissipated. Despite strong fundamental support including over $30 million in new orders in May bringing Q2-to-date orders above $110 million, the combined supply pressure from both events has driven renewed weakness.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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