Ondas Holdings Inc. (ONDS) saw its stock price soar 5.06% during intraday trading on Monday, following the announcement of a significant contract award for its subsidiary and reaffirmed positive analyst sentiment.

The surge comes after the company announced that its smart demining subsidiary, 4M Defense, secured a multi-year demining program in Israel valued at over $30 million. The project, covering approximately 741 acres along the Israel-Syria border, represents one of the largest land-clearance efforts in Israel and is expected to be executed over an initial period of up to three years, with options for extensions.

Adding to the positive momentum, Lake Street analyst Max Michaelis maintained a Buy rating on Ondas Holdings with a price target of $19.00. The combination of a substantial new revenue-generating contract and continued analyst confidence appears to be driving investor interest in the stock during the trading session.